Ethereum (ETH) recently broke through the $4700 barrier, attracting widespread attention in the market. This breakthrough is not just a simple price rise, but reflects the strong involvement of market makers.

On-chain data analysis shows that the inflow of funds into large wallets has significantly increased, while the staking volume is also showing a steady upward trend. These signs indicate that market chips are concentrating in the hands of large funds, demonstrating institutional investors' confidence in the future development of Ethereum.

From a technical analysis perspective, after breaking through the key resistance level, the rise trend of Ethereum is confirmed. The moving averages across various timeframes show a typical bullish arrangement, further supporting this view.

From a psychological perspective, the breakthrough of 4700 dollars is significant. This price point is seen as a watershed for the market; once broken, it may stimulate more retail investors to follow the trend and enter the market, thereby creating a virtuous cycle that drives the price further up.

In light of the actual demand for the continuous growth of the Ethereum ecosystem, industry experts generally believe that the current pump may just be the beginning. The applications of Ethereum in decentralized finance (DeFi), non-fungible tokens (NFT), and other fields are continually expanding, providing a solid foundation for its value rise.

For investors, the current market situation may provide an opportunity to follow the market maker's layout. However, given the high volatility of the cryptocurrency market, investors should still be cautious when making decisions and fully assess the risks.

As the Ethereum ecosystem continues to develop and institutional investors maintain their focus, the market remains optimistic about its long-term prospects. However, investors should also closely follow changes in the global regulatory environment and other external factors that may impact the market.