Ethereum (ETH), the most prominent altcoin, was recently
approaching its 2021 ATH (all-time high). In July 2025, its value gained 85%,
driven by heavy institutional buying, adoption from corporate accumulators, and
tightening supply. On 14 August, it rose to $4,792, almost hitting the previous
ATH of around $4,867, but then rolled back. In this article, Octa, a globally
regulated and trusted broker since 2011, discusses whether the second-largest
cryptocurrency after Bitcoin (BTC) can surpass its previous record in the near
future and what investors should expect next.
Introduction
ETH is often described as the ‘BTC’s junior sibling’, firmly
holding its position as the major altcoin and second-most traded
non-stablecoin. While Bitcoin continues to dominate as the original digital
asset and benchmark for the entire crypto market, Ethereum plays a distinct and
complementary role within the broader financial and technological ecosystem.
The two assets address different objectives that significantly
shape their market value. Bitcoin’s worth is anchored to its decentralised
store of value and hard cap on supply that enforces scarcity—a digital analogue
of gold. The ETH supply model has no absolute ceiling: circulation is affected
by integrated mechanisms like transaction-free burning. Since it was created as
a decentralised computing platform, its valuation is more closely tied to
network usage and adoption.
Ethereum has historically been more volatile than Bitcoin because
it acts as both a technology platform and a currency. Its price is influenced
by several factors, including major software upgrades, how often the platform’s
features are used, government regulations, and institutional adoption. These
factors, on top of the broader crypto market trends often led by Bitcoin, can
cause sharper price swings for Ether.
ETH to set a new ATH amidst new BTC
records and overall crypto growth
This summer, the crypto rally has been setting new milestones.
Total cryptocurrency market capitalisation exceeded $4 trillion for the first
time and extended its advance to a fresh all-time high of $4.2 trillion on 18
August. According to Coinbase, the flagship cryptocurrency, BTC, set a new
record on 14 August: $124,533. It beats the BTC’s July maximum of $123,231.
While Bitcoin remains the dominant force with a market capitalisation of
roughly $2.4 trillion, ETH comes second. It takes up around 13% of the total
market. ‘It seems reasonable to assume that Ether’s share of the total crypto
market capitalisation could expand further. While currently priced well below
Bitcoin, Ether is benefiting from the same powerful bullish drivers that
recently propelled Bitcoin to new all-time highs, including institutional and
corporate buying, a tightening supply, and strong ETF [Exchange-Traded Funds]
inflows’, says Kar Yong Ang, a financial market analyst at Octa Broker.
Indeed, multiple public companies, including BitMine Immersion
Technologies[1]
and SharpLink Gaming, have been aggressively accumulating ETH as a treasury
reserve asset. This is a significant trend that has contributed to the price
increase. BitMine, in particular, has publicly stated that its goal is to
acquire 5% of the total ETH supply. At the same time, the amount of ETH
available on exchanges has dropped to a nine-year low, and a large portion of
the total supply (over 30%) is locked up in staking contracts. This creates a
‘supply squeeze’ where strong demand meets a limited supply, which drives
prices up. As for ETF flows, thelaunch
of U.S. spot Ethereum ETFs has also been a major catalyst, attracting billions
in inflows and driving demand from traditional finance. A report from ForkLog,
referencing CoinShares data, states that Ethereum-based funds attracted a
record $2.8 billion in inflows from 9 to 15 August, and another report from
Bitget News cited a similar figure of $2.85 billion in weekly net inflows.
Still, amidst the dynamic market and BTC growth, ETH has failed to
set a new ATH since November 2021. The second major cryptocurrency seems to be
undervalued compared to Bitcoin, with its real value being far higher. In
mid-July, Coinbase reported that investors started to shift their attention to
prominent but underappreciated assets like Ethereum and Solana (SOL) that show
almost no performance in the context of a series of BTC ATHs. The growing
investor interest emphasises that the ETH value hasn’t reached its momentum and
may increase to a new record and far beyond it.
To buy or not to buy ETH: a price
change scenario
So far, the price of Ether has almost tripled since April 2025.
Following a bullish market sentiment, Ethereum approached its current ATH of
around $4,867, reaching $4,792 on 14 August. Although its price rolled back
thereafter, the bullish scenario seems reasonable considering several
supporting factors.
Firstly, the growing demand for ETH is supported by record-breaking
institutional investment. From 11 to 15 August, daily and weekly inflows into
Ethereum ETFs surpassed previous records and outpaced those of Bitcoin funds.
Market sentiment also supports a bullish scenario, with the CNN Fear and Greed
Index consistently being in the ‘greed range’ for the past several months,
indicating a sustained period of positive market sentiment. Moreover, with more
than 36 million ETH—30% of all assets—being locked in staking contracts, the
supply on exchanges becomes scarce, considering growing buying interest. The
market confidence is also boosted by regulatory shifts that provide more clarity
for investors. This includes, but is not limited to, the US ‘Crypto Law’, the
long-awaited Ripple-SEC case resolution, and pending SEC approval of staking in
ETH ETFs.
Since ETH is a computing platform, recent technical upgrades also
reinforce its growth. For example, the Pectra upgrade in May 2025 enhanced
scalability, user experience, and staking. More updates, like the anticipated
Osaca-Fulu and Amsterdam-G, are strengthening the ecosystem further. Hence, the
fundamental supply-demand factors, amidst supporting technical updates and
regulatory clarity, foster the Ethereum price to keep increasing.
‘The long-term setup for Ethereum looks
solid. The potential to hit a new ATH and break well beyond prior highs remains
on the table. But the recent pullback—both in price action and ETH ETF flows—is
a reminder that nothing moves in a straight line. In crypto, corrections are
part of the game: they wash out excess leverage and reset sentiment before the
next move. Investors should stay constructive, but also realistic about the
path being bumpy’, notes Kar Yong Ang, a financial market analyst at Octa
Broker.
Most recently, ETHUSD has rebounded from the upper bound of a
strong support zone defined by $3,786-4,053 levels. In case it can consolidate
above the $4,300 level and post a weekly close above $4,500, then it can
continue to move higher and set a new ATH—possibly in the $4,975 area (see the
chart below).
ETHUSD is
available to trade with OctaTrader, Octa’s proprietary trading platform,
designed to deliver a seamless and secure trading experience.Since 2011, Octa
has been a regulated and trusted broker, offering transparent trading
conditions with no hidden fees or tricks—just honest, straightforward trading.
ETHUSD WEEKLY CHART
Source: TradingView, Octa Broker
Disclaimer: This article does not contain or constitute investment advice or
recommendations and does not consider your investment objectives, financial
situation, or needs. Any actions taken based on this content are at your sole
discretion and risk—Octa does not accept any liability for any resulting losses
or consequences.
About Octa
Octa is an
international broker that has been providing online trading services worldwide
since 2011. It offers commission-free access to financial markets and various
services used by clients from 180 countries who have opened more than 61
million trading accounts. To help its clients reach their investment goals,
Octa offers free educational webinars, articles, and analytical tools.
The company is involved in a
comprehensive network of charitable and humanitarian initiatives, including
improving educational infrastructure and funding short-notice relief projects
to support local communities.
Since its foundation, Octa has won
more than 100 awards, including the ‘Most Reliable Broker Global 2024’ award
from Global Forex Awards and the ‘Best Mobile Trading Platform 2024’ award from
Global Brand Magazine.
