Ethereum Price: Ethereum, the second most popular cryptocurrency after Bitcoin, reached a near record high at $4600, driven by institutional investment, ETF inflows, positive sentiment, and increased on-chain activity.
Ethereum price jumped 9 per cent in the past 24 hours as per CoinMarketCap, with market cap rising to $560.56 billion.
In the recent market surge, Ethereum has significantly outperformed Bitcoin. ETH posted impressive gains of 25% in August alone, compared to Bitcoin’s modest 3% rise, argued Piyush Walke – Derivatives Research Analyst, Delta Exchange.
Ethereum jumped approximately 9% since yesterday, breaking past the $4,600 level — just 200 points shy of its all-time high from November 2021.
Walke added this rally is driven by strong bullish momentum fueled by institutional inflows, technical breakouts, and optimism surrounding Ether ETFs. On Monday, spot Ether ETFs recorded their highest-ever single-day net inflows, totaling $1.01 billion. This surge in capital coincides with Ethereum’s 90% gain over the past 40 days and a shift in key technical indicators to bullish territory.
With the jump of Ethereum price, its founder Vitalik Buterin has once again joined the ranks of crypto’s 10-figure holders, with his portfolio now valued at approximately $1.04 billion.
Since its inception, ETH has given an approximately 163392 per cent return to investors.
Institutions like Bitmine and SharpLink have notably increased their ETH holdings, in some cases by several hundred percent, signaling growing institutional confidence. These inflows are reinforcing bullish technical patterns and pushing prices through key resistance levels like $4,600.
Meanwhile, Bitcoin price retreated to $118,989 after jumping near its ATH. Bitcoin price is up 4.25 per cent in the past 7 days.
Ethereum is a decentralized, open-source blockchain platform that enables developers to build and deploy smart contracts and decentralized applications (dApps). Launched in 2015 by Vitalik Buterin and others, it goes beyond Bitcoin’s primary function as digital money by offering programmable blockchain capabilities. Ethereum’s native cryptocurrency, Ether (ETH), is used to pay for transaction fees and computational services on the network.
