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Ethereum, the world’s second-largest cryptocurrency by market capitalization, surpassed the $4,500 mark on August 12 for the first time in more than three years.
Market analysts attribute ETH’s latest rally to significant inflows into exchange-traded funds (ETFs) tied to the asset, growing interest from institutional investors, and a supportive macroeconomic backdrop, Forbes reports.
Brian Huang, cofounder of fintech firm Glider, noted that corporate treasury holdings of ETH have surged sharply this summer, signaling strong long-term confidence. He also pointed to record ETF inflows and recent announcements from Stripe and Circle regarding EVM-compatible L1 solutions—moves that reinforce Ethereum’s role as the foundational settlement layer for Web3. According to Messari, spot Ethereum ETFs saw $1 billion in inflows in a single day, marking the largest daily intake on record.
In addition to fundamental drivers, momentum trading played a major role in boosting ETH’s gains. “Once ETH broke through major resistance, momentum traders piled in,” said Joe DiPasquale, CEO of crypto hedge fund BitBull Capital, citing improved liquidity and rising bullish sentiment. Tim Enneking, managing partner at Psalion, added that the current rally is partly catch-up to Bitcoin, as ETH still trails BTC’s growth over the past year.
As of press time, TradingView data shows ETH trading at $4,642—up nearly 50% in the past 30 days.

ETH price trend. Source: TradingView
Daniel Polotsky, founder of CoinFlip, said the rally partly reflects a rebound from overly bearish sentiment earlier this year, when the ETH/BTC ratio hit multi-year lows. He believes the recent climb represents a reversion to the mean as ETH recovers amid improving investor outlook.
While ETH has yet to reach its all-time high from late 2021, its recent momentum, institutional adoption, and ETF inflows suggest further upside potential. To match BTC’s performance over the past year, ETH would need to rise to $5,300—even without Bitcoin setting new records.
Read also: Bitcoin dominance dips to 59.6% amid capital shift