Tag:

AllTime

XRP price approaching critical support: a technical analysis deep dive
NFT Gaming

is a new all-time high rally next?

by admin



XRP price is trading above strong high-timeframe support, aligned with the 0.618 Fibonacci retracement and the 50-day moving average. This confluence reinforces its bullish market structure and continuation potential.

Summary

  • XRP trades above high time frame support at the 0.618 Fibonacci and 50-day moving average.
  • Higher lows and higher highs signal bullish continuation potential.
  • Bullish volume inflows are essential for sustaining a move toward a new all-time high.

Ripple (XRP)’s recent price action has highlighted a significant confluence zone that is currently acting as support. This level combines high-timeframe support, Fibonacci retracement, and a dynamic moving average structure, all of which are critical for sustaining a bullish trend. With these elements aligned, XRP’s market structure remains intact, and the setup suggests room for continuation higher.

Key XRP price technical points

  • High Time Frame Support: Confluent with the 0.618 Fibonacci and the 50-day moving average, providing a solid structural base.
  • Bullish Market Structure: Higher highs and higher lows continue to dominate, reinforcing the case for continuation.
  • Volume Profile Critical: Sustained bullish inflows are required to validate momentum toward a potential new all-time high.

XRPUSDT (1D) Chart, Source: TradingView

XRP’s current technical setup is strongly bullish, with price maintaining levels above high-timeframe support. The 0.618 Fibonacci retracement has proven to be a key reversal zone in previous cycles, and when paired with the 50-day moving average, it provides a reinforced support cluster. Such confluences are significant because they often act as springboards for the next leg higher in strong trending markets.

From a structural perspective, XRP is continuing to print higher lows and higher highs, a defining trait of bullish momentum. The establishment of a new higher low in this region creates the conditions necessary for continuation toward fresh highs. If this structure holds, the probability of an extended rally increases substantially, with the potential for a new all-time high firmly in play.

The volume profile remains one of the most important metrics to monitor. While support levels and moving averages establish the technical foundation, it is volume that ultimately drives momentum. An influx of bullish volume will serve as confirmation that demand is present and willing to sustain upward pressure. Without this validation, rallies can falter even in technically favorable conditions. Traders will be looking for signs of strong participation at current levels to confirm the sustainability of the move.

What to expect in the coming price action

As long as XRP continues to hold above the high-timeframe support confluent with the 0.618 Fibonacci and 50-day moving average, the probability of a breakout to a new all-time high remains strong. Continued higher-low formations and bullish volume inflows will be the catalysts needed for acceleration.



Source link

0 comments
0 FacebookTwitterPinterestEmail
Blue-Chip NFTs Tumble as ETH Retreats From All-Time Highs
NFT Gaming

Blue-Chip NFTs Tumble as ETH Retreats From All-Time Highs

by admin



Blue-chip non-fungible token (NFT) collections had steep weekly declines as Ether pulled back from all-time highs. 

Data from decentralized finance aggregator DefiLlama showed that top projects saw their floor prices sink by double digits in the last seven days. Blue-chip NFT collections like Pudgy Penguins, Bored Ape Yacht Club (BAYC) and Doodles were among the hardest hit.

Pudgy Penguins, the top NFT collection by 24-hour and 7-day volume, saw a 17.3% drop to a 10.32 Ether (ETH) floor price. BAYC shed 14.7% to 9.59 ETH, while Doodles recorded one of the sharpest corrections, dropping 18.9% to 0.73 ETH. Other major collections like Moonbirds and Lil Pudgys dropped 10.5% and 14.6%, respectively.

The NFT floor price drop followed a sharp ETH retracement after hitting new all-time highs. On Monday, CoinGecko data showed that ETH reached a new all-time high of $4,946. ETH dropped 12% on Tuesday to $4,342 before recovering slightly. At the time of writing, the crypto asset traded at $4,433.

Top NFT collections by trading volume. Source: DefiLlama

CryptoPunks remain resilient despite the market crash

While many collections suffered heavy losses, not all NFT projects were in retreat. CryptoPunks, which remained the top NFT collection by market cap, showed relative resilience, dropping only 1.35% over the week. 

Despite the top collections showing floor price declines, trading volumes remained high. Throughout the week, Pudgy Penguins led the market with about 2,112 ETH (about $9.36 million) in trading volume. The collection was followed by Moonbirds, with 1,979 ETH ($8.77 million). 

CryptoPunks followed closely with 1,879 ETH (about $8.33 million) in volume, while BAYC had 809 ETH ($3.59 million). 

Related: 3D-printed housing company adopts Bitcoin, NFTs in blockchain pivot

NFT market capitalization drops to $7.7 billion

While blue-chip NFTs suffered double-digit declines, the broader NFT space also dropped almost 5% to $7.7 billion, according to data aggregator NFT Price Floor. 

On Aug. 13, NFT Price Floor showed that the overall NFT market capitalization peaked at $9.3 billion, up 40% from July’s $6.6 billion. The surge was fueled by an increase in NFT activity following an ETH surge. 

On Aug. 18, the NFT market cap dropped further to $8.1 billion, wiping out $1.2 billion from digital collectible valuations. 

Magazine: Ethereum’s roadmap to 10,000 TPS using ZK tech: Dummies’ guide



Source link

0 comments
0 FacebookTwitterPinterestEmail
Ssd 9100 Pro Samsung
Game Reviews

This Samsung 9100 Pro 4TB SSD Hits a New All-Time Low, Amazon Clears Out Stock for Labor Day

by admin


Amazon’s Labor Day sales have officially launched and some of the best offers are not on everyday essentials but on real tech upgrades. That’s exactly the case with the Samsung 9100 Pro 4TB SSD, which only went on sale a few months prior for $550. Now it has dropped to as little as $372 (37% off) which is an all time low for a brand new item. Samsung’s smaller 1TB and 2TB versions are seeing price drops as well right now but they come with less dramatic dives.

See at Amazon

4.8 Out of 5 Stars Rating

This is a PCIe 5.0 drive which means you’re effectively stepping into the latest generation of storage technology. On paper, it can push sequential read speeds up to 14,800 MB/s and write speeds of around 13,400 MB/s (double the Samsung’s legendary 990 Pro). Launching games, opening massive video projects or crunching through workloads tied to AI applications and content creation happens almost instantly.

What’s equally impressive are the random read and write numbers as it can reach up to 2,200K and 2,600K IOPS. Sounds like computer lingo, but what it really translates to is seamless multitasking with a whole lot less waiting. Edit 4K or 8K footage, train AI models or load intense workstation applications: this drive maintains your system responsiveness even at high load. Gamers benefit too with incredibly fast in-game loading and virtually zero stutter while streaming assets in-game.

There’s a fresh 5nm controller inside which cuts power consumption by nearly 50% compared to the 990 Pro and that’s gigantic for laptops that sit through long sessions and desktops trying to keep temperatures under control. There’s integrated advanced thermal management which prevents overheating and throttling even when you’re hammering the drive with constant workloads.

On the software side, Samsung continues to support its drives with its Magician software suite which updates firmware automatically, contains helpful drive health monitoring and offers extra layers of encryption for workstations that deal with sensitive information.

If you’ve been waiting for a reason to jump into PCIe 5.0 speed, this Labor Day is the perfect time.

See at Amazon



Source link

0 comments
0 FacebookTwitterPinterestEmail
Intel's Core i5-14600K is on sale for $149, with 'Battlefield 6' and other software included for free
Gaming Gear

Intel’s Core i5-14600K hits an all-time low of $149, with Battlefield 6 and other software included

by admin



Newegg is promoting one of the best CPU bargains of the year right now, featuring Intel’s previous-generation Core i5-14600K discounted to historically low prices, combined with Intel’s Gamer Days Bundle, worth $315 by itself.

At Newegg, you can grab Intel’s Core i5-14600K for just $189.99 right now as part of its shell shocker sale. But on top of that, the listing also includes a $40 promo code you can enter at checkout, dropping the price of the CPU all the way down to $149. Paired with the Core i5-14600K is Intel’s Gamer Days bundle, which includes several games and apps: Battlefield 6 Phantom Edition, Assassin’s Creed Shadows Digital Deluxe Edition, Canvid, XSplit Premium Suite, and Vegas Pro 365.

The Core i5-14600K is still one of the fastest gaming CPUs in Intel’s arsenal, despite being a generation old. Our gaming results reveal that the Core i5-14600K is capable of producing gaming performance well within the ballpark of the fastest gaming CPU models Intel makes and the latest CPUs AMD makes — except for AMD’s pricier X3D parts.

Intel’s fumble with Arrow Lake-S has put the Core i5-14600K in the unusual spotlight of being Intel’s fastest mid-range gaming chip across two generations. The Core i5-14600K outperforms its successor, the Core Ultra 5 245K, and virtually matches the Core Ultra 9 285K in our game-focused performance tests.

Productivity performance is not bad either; thanks to the inclusion of eight E-cores, the 14600K boasts multi-core performance, approaching the Ryzen 7 9700X and outperforming the Ryzen 7 7800X3D in our testing with Cinebench.

Image 1 of 5

(Image credit: Tom’s Hardware)(Image credit: Tom’s Hardware)(Image credit: Tom’s Hardware)(Image credit: Tom’s Hardware)(Image credit: Tom’s Hardware)

Newegg’s combo is hard to ignore if you are in the market for a mid-range CPU for your next build or CPU upgrade. Not even factoring in the game/app bundle, the Core i5-14600K deal alone is very competitive and makes the Raptor Lake chip arguably the best gaming CPU for $150.

The Intel Gamer Days bundle is the cherry on top, even if you only plan to play Battlefield 6. The cost of that game alone nearly cuts the 14600K’s $150 price tag in half. There is so much content in the Gamer Days bundle that it’s worth more than the CPU if you were going to buy it all.

In fact, the Intel Gamer Days bundle is being promoted on several Intel products right now, including the ASRock Challenger Arc B570 going for $229 and the Core Ultra 5 245K (which also happens to have a $50 promo code). Even with these higher-priced products, the software bundle is more valuable than the actual products themselves.

If you’re looking for more savings, check out our Best PC Hardware deals for a range of products, or dive deeper into our specialized SSD and Storage Deals, Hard Drive Deals, Gaming Monitor Deals, Graphics Card Deals, or CPU Deals pages.



Source link

0 comments
0 FacebookTwitterPinterestEmail
Ethereum Nears All-Time High: Can The Momentum Sustain?
Crypto Trends

Ethereum Nears All-Time High: Can the Momentum Sustain?

by admin



The altcoin leader, and the world’s second-largest cryptocurrency, Ethereum (ETH) price is showing strong market momentum as it closes to its all-time high (ATH) of $4,953.73 today. In the past 24 hours, ETH has lost 6.87%, resulting in its market capitalization dropping to $552.32 billion.

Currently trading at $4,575.06 as per Etherscan with a trading volume of just over $66 billion, a critical question has been raised among the investors. Is Ethereum gearing up for a breakout, or are we seeing early signs of a short-term correction?

Ethereum On-Chain Insights

On-chain data reveals continued institutional interest in Ethereum through exchange-traded fund activity. ETF inflows reached $341 million on August 25, according to SoSoValue data, with total net assets under management crossing $30.5 billion. While temporary outflows were seen earlier this month, the rebound indicates confidence among large investors.

On the other hand, the active addresses on the Ethereum network, which has grown rapidly from 300K in May 2024 to around 432K, alongside ETH price action. Historical analysis indicates rising active addresses typically correlate with sustainable price advances due to increased network adoption and user engagement.

ETH Price Analysis

Looking at the technical charts, ETH price is consolidating after facing rejection near its all-time high. Additionally, the Bollinger Bands (BB) highlight expanded volatility, with the price recently hitting the upper band before experiencing a pull back.

The recent red candles and declining volume suggest short-term profit-taking by traders, rather than fundamental selling pressure. However, the broader uptrend remains intact, supported by higher lows since June. If bulls maintain buying pressure above the mid-Bollinger level that is around the $4,373 mark, it could result in another attempt toward uncharted territory for Ethereum.

Will Ethereum Hit A New High?

While the rejection near its ATH triggered a 6.87% pullback, strong on-chain fundamentals, including rising ETF inflows and healthy user activity, suggests a potential bullish turnaround. With this, the key levels to watch are $4,350 as near-term support and $4,950 as resistance.

If ETH price holds above support of $4,625 and demand increases, the next breakout could drive the price well beyond $5,000 mark, cementing a new all-time high for the second time this week. However, failure to sustain above that price point could invite correction toward the $4,350 range shortly.

Also Read: BitMine Expands Ethereum Treasury to 1.71M ETH Worth $7.9B 

Disclaimer: The Crypto Times does not endorse or promote this digital asset in any manner. This article was created only for educational purposes. Make sure to “DYOR” as the market is highly volatile. New positions should be done by traders being careful and awaiting volume-backed breakouts.



Source link

0 comments
0 FacebookTwitterPinterestEmail
ETHZilla’s NASDAQ relaunch puts $419m Ethereum treasury in the spotlight
NFT Gaming

Ethereum price down after new all-time high above $4,900, can it crash?

by admin



Ethereum’s price has slipped nearly 5% after hitting a new all-time high of $4,946 earlier today.

Summary

  • Ethereum price has cooled off after hitting an all-time high on Aug. 25.
  • Historical data suggests that September could be bearish for ETH.
  • Technicals portray a contrasting outlook as ETH trades within an ascending channel on the daily chart.

According to data from crypto.news, Ethereum (ETH) price rallied over 21% to hit a new all-time high of $4,946 on Aug. 25 before settling down at $4,713 as of press time. At this price, it remains 26% above since the beginning of August and 220% from its year-to-date low.

Despite the strong gains posted by the leading altcoin by market cap in August, historical data suggests that the upcoming month could likely be bearish for it.

A look at data from CoinGlass shows that since 2016, each time Ethereum recorded gains in August, it was followed by a decline in September. More specifically, ETH posted gains of 92.86%, 25.3%, and 35.6% in August of 2017, 2020, and 2021, while the respective Septembers recorded declines of 21.65%, 17.08%, and 12.55%.

ETH monthly price gains | Source: CoinGlass

Such a scenario is further supported by the fact that ETH remains close to its all-time high levels. Cryptocurrencies typically tend to face some sell-off after hitting a new peak, as early investors begin to book profits.

Meanwhile, data from CoinGlass shows that Ethereum’s sharp drop from its new high was triggered by a wave of long liquidations, as overleveraged positions were flushed near the top. In the past 24 hours, total liquidations for ETH stood at $216 million, with nearly $130 million coming from long positions.

ETH liquidation data | Source: CoinGlass

As of press time, dense liquidation zones remain clustered above $4,900. Any renewed attempt to break higher could spark another liquidation cascade. If this occurs, ETH may slip further toward the $4,600–$4,680 range.

Nevertheless, unlike in previous cycles, Ethereum could enter the coming September under a different macro environment, one marked by the presence of spot Ether ETFs and corporate treasuries holding ETH, both of which were absent during past August rallies. 

The nine-spot Ether funds have attracted $2.79 billion in inflows in August, following $5.43 billion in the previous month, reflecting strong demand for Ether among institutional investors. This stands in contrast to their Bitcoin counterparts, which have seen outflows totaling $1.19 billion this month.

Adding to the shift in market dynamics, Ether has emerged as one of the most closely watched crypto assets this month, bolstered by regulatory momentum, and a wave of corporate accumulation.

On the daily chart, Ethereum has been trading within an ascending parallel channel since late June, characterized by higher highs and higher lows within two upward-sloping trendlines. This structure typically signals a continuation of the prevailing bullish trend, provided price remains confined within the channel.

Ethereum price forms an ascending parallel channel on the daily chart — Aug. 25 | Source: crypto.news

As of press time, Ethereum was consolidating near the midline of the channel, suggesting a period of equilibrium between buying and selling pressure. Notably, the token continues to trade above the 20-day exponential moving average, a sign that short-term momentum remains in favor of the bulls.

Additionally, the Supertrend indicator has flipped green and positioned itself below the price, offering another bullish confirmation.

Meanwhile, the Relative Strength Index has dropped to a reading of 60, indicating that bullish momentum persists, but without entering overbought territory. This suggests that Ethereum still has room to advance before facing buyer exhaustion.

Ethereum MACD chart — Aug. 25 | Source: crypto.news

If bullish momentum continues, the next major upside target lies at $5,200, which represents a 10% gain from the current level and marks the upper boundary of the channel. A breakout above this level could accelerate further gains, particularly if accompanied by strong volume.

On the downside, immediate support is found at $4,349, a level that aligns with the 78.6% Fibonacci retracement of the most recent upward swing.

A break below this level would invalidate the current pattern and could trigger a deeper correction toward the lower boundary of the channel.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.



Source link

0 comments
0 FacebookTwitterPinterestEmail
Ethereum Price Hits All-Time High Of $4,948, Eyes $5,000 Next
GameFi Guides

Ethereum Price Hits All-Time High of $4,948, Eyes $5,000 Next

by admin



Ethereum (ETH), the second-largest cryptocurrency in the world, is burning up again, reaching new highs and approaching the long-anticipated $5,000. Just two days after finally breaking past its all-time high (ATH) of $4,878 from November 2021, ETH climbed even higher on Sunday, August 24, 2025.

According to CoinGecko, Ethereum reached $4,945, while CoinMarketCap showed an even bigger spike at $4,948. ETH is holding strong near those levels. At the time of writing, Ethereum was trading at $4,733.79, down 1.26% in the last 24 hours.

The rally began on Friday after the U.S. Federal Reserve Chair Jerome Powell hinted at possible interest rate cuts, sparking a wave of optimism across crypto markets. ETH alone surged nearly 8% within an hour and finished the day up 15%.

Record Inflows and Corporate Buying Drive ETH Surge

Several powerful drivers are fueling Ethereum’s rise. Spot Ethereum ETFs in the U.S. have had record inflows, with more than $1 billion being pulled in on a single day- the first time in weeks that they have outperformed Bitcoin ETFs. 

In the meantime, corporate treasuries are piling in ETH. BitMine Immersion now holds over $7 billion worth, while SharpLink Gaming has amassed more than $3.6 billion.

Regulation has also turned more favorable. The SEC recently eased rules around staking services, while the GENIUS Act created a clear U.S. framework for stablecoins, most of which run on Ethereum’s network.

With momentum building, many traders believe $5,000 is well within reach. In fact, 90% of users in recent polls expect ETH to hit the milestone by the end of 2025.

Also Read: U.S. Treasury Seeks Public Input on GENIUS Stablecoin Bill



Source link

0 comments
0 FacebookTwitterPinterestEmail
Hollow Knight Just Hit An All-Time Peak On Steam After Silksong Release Date Reveal
Game Updates

Hollow Knight Just Hit An All-Time Peak On Steam After Silksong Release Date Reveal

by admin



2017’s Hollow Knight just reached a new all-time peak concurrent-player record on Steam, and the achievement came just after developer Team Cherry announced the release date for its sequel, Silksong.

Hollow Knight reached an all-time peak concurrent record of 23,819 on Steam today, August 22. Measuring a game’s popularity by Steam concurrent numbers is never a perfect or complete encapsulation of a game’s popularity, and Hollow Knight being an exclusively single-player game that doesn’t rely on people playing at the same time muddies the waters as well. But what is evident here is that Hollow Knight’s popularity on Steam is growing in the wake of the big Silksong reveal.

Size:640 × 360480 × 270

Want us to remember this setting for all your devices?

Sign up or Sign in now!

Please use a html5 video capable browser to watch videos.

This video has an invalid file format.

Sorry, but you can’t access this content!

Please enter your date of birth to view this video

JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember12345678910111213141516171819202122232425262728293031Year202520242023202220212020201920182017201620152014201320122011201020092008200720062005200420032002200120001999199819971996199519941993199219911990198919881987198619851984198319821981198019791978197719761975197419731972197119701969196819671966196519641963196219611960195919581957195619551954195319521951195019491948194719461945194419431942194119401939193819371936193519341933193219311930192919281927192619251924192319221921192019191918191719161915191419131912191119101909190819071906190519041903190219011900

By clicking ‘enter’, you agree to GameSpot’s

Terms of Use and
Privacy Policy

enter

Now Playing: Hollow Knight: Silksong – Official Release Date Reveal Gameplay Trailer

Hollow Knight’s previously Steam concurrent record of around 20,000 players was achieved in May 2022. All of this data comes from SteamDB.

Steam’s own sales data shows that Hollow Knight jumped into the top 50 overall best-selling games on the platform. The game is also available on console platforms, but sales or engagement data is not available. Hollow Knight is also available on Game Pass (and Silksong will be as well).

At least three games have already been delayed due, in part, to Silksong. The game is set for release on September 4, and it’s been a long time coming.

“Hollow Knight: Silksong appears to be exactly what we all should have expected: a strong, well-designed, visually lovely game that carries forward the aesthetic and design philosophies of the original with thoughtful, if not earth-shattering, updates,” GameSpot’s Steve Watts wrote after going hands-on with Silksong at Gamescom this week.



Source link

0 comments
0 FacebookTwitterPinterestEmail
Decrypt logo
GameFi Guides

Quarter Billion in Ethereum Shorts Get Rekt as ETH Nears All-Time High

by admin



In brief

  • Ethereum jumped nearly 15% Friday after Fed Chair Jerome Powell hinted at rate cuts, but the token stalled just short of eclipsing its all-time high of $4,878.
  • More than $340 million in Ethereum long and short positions were liquidated in the last 24 hours, making up over half of all crypto market liquidations.
  • Regulatory tailwinds, corporate treasury purchases, and ETF inflows have strengthened demand for the asset, but failed to push it past a price record it’s failed to beat in nearly four years.

Ethereum short traders lost hundreds of millions of dollars Friday as ETH came within inches of breaking past its all-time high price, but ultimately failed to rise to the occasion.

In the last 24 hours alone, over $259 million worth of ETH short positions have been liquidated, according to data from CoinGlass. Another $80 million in long positions on the cryptocurrency have expired as well—bringing the total value of ETH liquidations in the last day to over $340 million.

That figure makes up over half of all liquidations across the entire crypto market in the last 24 hours. Just north of $668 million in crypto derivatives have been wiped out in the last day, a clear signal that, at least for the moment, all eyes are on ETH.



The cryptocurrency has been on a tear in August after a largely lackluster year, but fell off again this week amidst macroeconomic uncertainty. Then, a long-awaited signal this morning from Federal Reserve Chair Jerome Powell, indicating that the U.S. central bank might soon cut interest rates, sent Ethereum and other altcoins surging.

Immediately following the announcement, ETH popped nearly 15%, briefly eclipsing $4,842 in value. The token’s previous all-time high price of $4,878 was reached nearly four years ago, on November 10, 2021—at the peak of the last crypto bull run.

Traders couldn’t quite push the cryptocurrency over the finish line, however. After coming within 1% of notching a new record price, ETH stalled, and then dipped, heading south again below the $4,800 mark. The token is trading at $4,773 at writing. The price of ETH also came close to a record last week before dipping.

In recent months, regulatory developments in the United States particularly well suited to benefit the Ethereum ecosystem have made the cryptocurrency a more attractive buy, analysts previously told Decrypt. What’s more, massive acquisitions of the token via corporate treasury buys and ETH ETF inflows have had a substantial deflationary impact on Ethereum’s tokenomics.

“ETH has particularly explosive dynamics going on,” Greg Magadini, director of derivatives at Amberdata, said in a note shared with Decrypt. Magadini favorably compared Ethereum to the iPhone, analogizing the growing ecosystem of goods and services built on the network’s smart contracts to Apple’s now-ubiquitous App Store.

But all that momentum has not been enough to push ETH into uncharted price territory—at least not yet. The notoriously slow-reacting cryptocurrency has struggled to surge to new highs, even as rival tokens continue to break records in the ongoing bull market.

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.



Source link

0 comments
0 FacebookTwitterPinterestEmail
Decrypt logo
NFT Gaming

Ethereum Hits All-Time High Price After Nearly 4 Years

by admin



In brief

  • Ethereum hit a new all-time high price, breaking a record set back in 2021.
  • The second-biggest cryptocurrency had lagged behind Bitcoin in gains, and long lingered well short of its previous peak.
  • Institutional adoption and a favorable regulatory landscape have helped the coin in recent months.

Ethereum hit a new all-time high price on Friday, breaking a nearly four-year record following recent gains fueled by surging ETH treasuries, an increasingly favorable regulatory environment for the protocol, and growing interest from traditional finance firms.

The second-largest cryptocurrency by market cap is up 15% over the past 24 hours to $4,879, surpassing its previous record of $4,878 set in November 2021, data from CoinGecko shows.

ETH has more than doubled in price over the last two months to outpace even Bitcoin as investors flood into the exchange-traded funds. After coming close to a new record on August 14, the price of ETH dipped alongside the rest of the market, dropping to under $4,100 earlier this week.

But on Friday, crypto prices broadly surged following Federal Reserve Chair Jerome Powell’s comments, which appeared to suggest potential for an interest rate cut ahead. Ethereum jumped by nearly 8% in an hour after the comments, and continued to tick up afterwards.



“It’s finally ETH’s moment to shine: record ETH ETF inflows and the launch of large ETH digital asset treasuries, coupled with broader ecosystem success—Circle and Bullish IPOs, and Trump’s executive order allowing digital assets in 401(k)s,” Brian Huang, co-founder of on-chain automation platform Glider, wrote in an email to Decrypt. “Jerome Powell’s dovish speech today hinting a rate cuts was the final push ETH needed.”

Huang added: “Sentiment in the trenches for ETH is strong as well. Layer-2s like Base continue to grow, and ETH still bodes the most DeFi liquidity by a factor of 9x above the second, Solana. We’re still in the early innings here for ETH, the world’s global settlement layer.”

The recent Ethereum boom has been fueled in part by growing ETF demand. Last week, U.S. spot Ethereum ETFs collected over $1 billion in inflows in a single day for the first time since they started trading in July 2024. And Ethereum funds have been outpacing Bitcoin ETFs with gains, though conversely, they’ve also bled out faster on down days.

The gains have dovetailed with rise of companies that have gobbled up Ethereum as their primary mission. In recent weeks, Bitcoin miner BitMine Immersion has grown its holdings to more than $7 billion, while SharpLink Gaming, which pivoted from online marketing, has accumulated more than $3.5 billion worth of the coin.

Such companies are following in the footsteps of Bitcoin treasury company Strategy (formerly MicroStrategy), which started buying the largest cryptocurrency by market cap in 2020 to pump its stock. The move has inspired dozens of followers, who have started expanding into other assets like Ethereum, Solana, and BNB.

“There are a lot of tailwinds behind ETH at moment,” said Strahinja Savic, head of data and analytics at crypto-focused financial services and advisory firm, FRNT Financial. “Record ETH ETF inflows and aggressive buying from treasury companies are offering tangible demand.”

“On top of this, Ethereum is at the center of several key themes that are garnering the attention of traditional financial institutions,” he continued. “These include tokenization of traditional assets and stablecoins. These are major economic themes, and Ethereum is emerging as a strong candidate to host this new influx of capital and interest.”

Ethereum also received a boost this month when the SEC clarified its guidance on staking, as Ethereum users have long sought from the securities regulator.

Former President Joe Biden administration’s more restrictive policies had resisted allowing this feature, but under President Donald Trump, the regulator said that liquid staking services can pay out staking rewards to customers without registering with the agency.

Last month’s passage of the GENIUS Act also boosted Ethereum’s prospects. The legislation provides a U.S. regulatory framework for issuing stablecoins. Developers of these projects overwhelmingly use the Ethereum blockchain for their projects. Most stablecoins are pegged to the value of the U.S. dollar.

“Ethereum’s new all-time high is a clear sign of investor demand beyond just Bitcoin,” Samir Kerbage, chief investment officer at crypto asset manager Hashdex, wrote in a message to Decrypt. “As Ethereum and other smart contract platforms provide the infrastructure for many of crypto’s most mature use cases, including stablecoins and tokenization, we anticipate continued strong demand for this emerging asset class.”

The odds that Ethereum climbs past $5,000 this year have jumped in the past day on Myriad Markets. The prediction market now shows a roughly 85% probability that the token will reach that threshold in 2025.

(Disclosure: Myriad is a prediction market and engagement platform developed by Dastan, parent company of an editorially independent Decrypt.)

In a note last week, U.K. bank Standard Chartered raised its Ethereum price target to $25,000 by 2028, a major shift from March forecasts that predicted a structural decline for the world’s second-largest crypto.

“We raise our price forecasts, as the backdrop for ETH has improved dramatically in recent months,” the bank’s Global Head of Digital Assets Research, Geoff Kendrick, wrote.

Editor’s note: This story was updated after publication to include additional comments.

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.



Source link

0 comments
0 FacebookTwitterPinterestEmail
Close