On August 24th, according to Cointelegraph, crypto analyst Matthew Hyland said in the video: If the weekly closing price of Ethereum can break through $2,800, Ethereum may rise sharply to $3,500 to $3,600, which will also promote the rise of counterfeit products. Data from CoinGlass shows that a 6% drop in the price of Bitcoin to $2,600 could wipe out a long position of $1.07 billion, while traders will be more confident if the price of Bitcoin rises as only $400 million is at risk. Meanwhile, Jamie Coutts, principal crypto analyst at Real Vision, is optimistic about the price of Ethereum, but claims that network activity on Ethereum needs to pick up before any major changes can occur. However, not all analysts share the same opinion. Boomer Saraga, founder and CEO of Khelp Financial, recently stated that Ethereum's on-chain activity indicates that the network is approaching its peak performance, and price is a factor lagging behind.