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Breaking: Ethereum (ETH) Suddenly Hits New ATH for the First Time Since 2021
GameFi Guides

Breaking: Ethereum (ETH) Suddenly Hits New ATH for the First Time Since 2021

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  • Nearly $300 million worth of shorts get wiped out 
  • $5,000 in sight? 

Flagship altcoin Ethereum (ETH) has reached a new record high for the first time in nearly four years. 

The token hit a new record peak of $4,885 at 21:08 UTC on the Bitstamp exchange, surging by more than 15% in a single day. 

ETH/USD via TradingView

In the meantime, Bitcoin’s dominance has now plunged to just 56.5%, according to CoinGecko data. 

As reported by U.Today, ETH’s monster surge came after Federal Reserve Chairman Jerome Powell explicitly signalled that there would be a rate cut next month. 

Nearly $300 million worth of shorts get wiped out 

CoinGlass data shows that a whopping $287 million worth of shorts have been liquidated over the past 24 hours. For comparison, only $67 million worth of Bitcoin shorts got wiped out over the same period of time. 

A $10 million ETH liquidation order took place on the OKX exchange earlier today. 

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$5,000 in sight? 

According to Polymarket bettors, ETH now has a 74% chance of hitting the much-coveted $5,000 level this August. 

In fact, there is a 29% chance of the flagship altcoin surging all the way to the $5,400 level during the last week of this August. 

The odds of ETH hitting $10,000 in 2025 currently stand at 16% on Polymarket.   



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Bitcoin Whale Suddenly Pivots to Ethereum After Exiting 7 Years of Dormancy
NFT Gaming

Bitcoin Whale Suddenly Pivots to Ethereum After Exiting 7 Years of Dormancy

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A dormant Bitcoin (BTC) whale investor has returned to the market after remaining inactive for seven years. In his latest move, the whale investor shifted attention to Ethereum (ETH), the leading market altcoin.

Dormant BTC whale pivots to Ethereum

According to data provided by Lookonchain, the Bitcoin whale left the market seven years ago after receiving 100,784 BTC, valued at $642 million.

Now, the whale is back to the market, recently selling his BTC to buy ETH. The whale investor purchased 62,914 ETH, valued at about $267 million, through spot trading. 

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Subsequently, he opened a massive 135,265 ETH, worth approximately $577 million — a long position.

Lookonchain also spotted another whale that deposited BTC into Hyperliquid to sell and buy ETH. This investor received 85,947 BTC seven years ago, matching the trading pattern of the recently reported whale.

On-chain tracking showed that six of their wallets still hold a massive 83,585 BTC, which is worth about $9.42 billion.

While the move appears to be a trade, the shift toward Ethereum is telling. It suggests that institutional players are rebalancing, possibly due to rising momentum on the ETH market.

Ethereum makes big moves

Ethereum has continued to make waves in key metrics over the past few days, despite a recent downtrend in its price. 

As U.Today reported earlier, ETH set a new record on the leading Chicago Mercantile Exchange (CME) on Aug. 20. 

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According to the details provided, over $8.3 billion worth of ETH was committed in active futures contracts on CME. This marks the highest level of open interest ever recorded for ETH derivatives on the exchange.

Ethereum’s recent performance has helped to fuel an optimistic outlook among market participants. Citing massive inflows into spot Ethereum ETFs this August, Crypto Godfather Michael Terpin said ETH is preparing to outperform BTC.

As of press time, ETH has increased by 1.08% over the past 24 hours to $4,341. BTC, on the other hand, has seen its price drop 0.6% to $113,009.



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Massive Ethereum ICO Whale Suddenly Made $12 Million ETH Transfer to Top Exchange
Crypto Trends

Massive Ethereum ICO Whale Suddenly Made $12 Million ETH Transfer to Top Exchange

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According to data provided by Spot On Chain, an Ethereum whale from the ICO era recently sent $12.1 million into the Kraken exchange. 

The whale in question received a total of 107,000 ETH at Genesis. This massive sum would be worth roughly $243 million at current prices. These tokens cost them just $31,000 back then. 

Ethereum (ETH) is currently the worst-performing cryptocurrency in the top 10 with a weekly drop of 3.2%, according to CoinGecko data. It is down 1.2% over the past 24 hours. 

The flagship altcoin is still down 50.5% from the all-time high that was achieved in late 2021 despite the fact that Bitcoin hit a record peak in May. 

Earlier this week, another Ethereum ICO whale deposited more than $5 million worth of ETH to the Binance exchange after an entire decade of inactivity. 



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Ripple
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The Satoshi Of XRP Returns: Ripple Co-Founder Suddenly Breaks 14-Year Silence

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The XRP community is in shock following the emergence of Ripple’s co-founder, Arthur Britto, after a 14-year silence. Britto has been inactive on the X platform over these years but is known to have played a major role in Ripple and the XRP Ledger’s (XRPL) development. 

Ripple Co-Founder Makes First-Ever Post On X

Arthur Britto made his first ever post on the X platform on June 23, despite joining the platform in August 2011. His post was simply a blank face emoji, which got the XRP community wondering what it might mean and why exactly the Ripple co-founder has returned now. Britto has cut a mysterious figure, despite co-founding the crypto firm alongside Jed McCaleb and Chris Larsen. 

Following Britto’s first X post, Ripple Chief Technology Officer (CTO) David Schwartz confirmed that the Ripple co-founder wasn’t hacked or compromised. Well-known XRP Ledger Validator Vet also replied, saying ‘no way,’ expressing his shock at Britto’s remergence. Meanwhile, Pumpius, a prominent XRP community member, gave an overview of who Britto was. 

In an X post, he first declared that the co-founder may be the “most important ghost in crypto history,” putting him ahead of Bitcoin founder Satoshi Nakamoto, who remains a mystery. Pumpius further stated that Britto helped build the XRP Ledger to help create a neutral bridge asset capable of handling global liquidity. 

Arthur Britto is also said to have designed the 100 billion XRP supply cap and co-authored the XRP whitepaper before he then disappeared without any trace on social media. Away from Ripple and the XRP Ledger, Pumpius revealed that Britto now runs PolySign. The company is working on building institutional custody, and Ripple allegedly has ties to PolySign. 

Community Members Raise Price Angle 

XRP community members also related Arthur Britto’s reemergence to the XRP price and what it could mean for the altcoin. Prominent community member Edo Farina said that the co-founder’s post has to be the “moon sign” that XRP holders have been waiting for, indicating that the price might soon surge. 

Crypto influencer John Squire highlighted how the co-founder was the same person who once said that XRP was designed to reach $10,000. He then questioned if this was a coincidence or if something big was brewing. Squire went on to answer the question by highlighting how the XRP Ledger has recorded its highest transactions in four months this week. 

He added that Britto’s appearance also coincides with “record on-chain volume, Ripple IPO rumors, and pre-bullrun conditions.” Based on this, he declared that the Ripple co-founder’s sudden burst into the scene is “not nothing” but most likely a pattern. 

At the time of writing, the XRP price is trading at around $2.19, up over 7% in the last 24 hours, according to data from CoinMarketCap.

XRP trading at $2.1 on the 1D chart | Source: XRPUSDT on Tradingview.com

Featured image from iStock, chart from Tradingview.com

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