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The altcoin season has not started yet, but it is currently the Ethereum season.
$ETH has reached the $4,000 level for the first time since December.
But this time there is a big difference:
This time, companies holding $ETH treasure are competing with each other for supply.
Corporate treasury accumulations, ETF inflows, and DeFi activity together support this rally.
Moreover, Ethereum's on-chain activity is currently experiencing a boom:
•On August 5, the daily transaction count reached a record of 1.74 million.
•July became the month with the highest number of transactions on a monthly basis.
The number of active addresses began to approach record levels seen in May 2021.
With this activity explosion, Ethereum's dominance has risen to 12% for the first time in 5 years.
And if ETH can hold above $4,000, the next target could be $7,500.