Ethereum's native asset has broken through the $4,000 level for the first time in 8 months, reaching an intraday high of $4,055. This important psychological milestone is approaching within about $900 of the all-time high of $4,867 recorded in November 2021.
Institutions Trigger ETF Price Surge
ETH showed a significant rally, rising over 44.5% last month. The asset increased by 7.9% last week and rose 2.6% in the past 24 hours. Since April 21, ETH has risen approximately 90% against Bitcoin.
The two main factors triggering the recent rally are increased institutional accumulation and strong inflows into spot Ethereum ETFs.
More and more companies are aggressively purchasing ETH worth billions of dollars. BitMine leads with over 833,000 ETH ($3.3 billion), followed by SharpLink with nearly 522,000 ETH ($2.1 billion). Standard Chartered's Jeffrey Kendrick suggests these companies have "just started" and could eventually hold up to 10% of all ETH.
US spot Ethereum ETFs have shown significant net inflows surpassing Bitcoin ETFs in recent weeks. These products raised nearly $5 billion last month alone. They have significantly contributed to total net inflows of $9.4 billion since trading began in July 2024.
$ETH continues to outperform $BTC ๐
โ Cas Abbรฉ (@cas_abbe) August 8, 2025
Just today, a whale bought 10.4K ETH worth $40.5 million via OTC.
Yesterday, Fundamental Global Inc filed a $5 billion shelf offering to buy more ETH.
It feels like the $4K ETH resistance won't be there for long. pic.twitter.com/Zjsw1xhStS
Market observer Cas Abbรฉ highlighted a "whale" transaction where an investor purchased 10.4K ETH worth $40.5 million via over-the-counter (OTC) trading.
Previously, Fundamental Global Inc. submitted a $5 billion shelf offering to purchase more ETH, further signaling strong institutional demand.
"$ETH continues to outperform $BTC. Today, a whale bought 10.4K ETH worth $40.5 million via OTC. Yesterday, Fundamental Global Inc filed a $5 billion shelf offering to buy more ETH. The $4K ETH resistance doesn't seem like it will last long."
Bitcoin Dominance Declining... Altcoin Season Approaching
ETH's rise occurred simultaneously with a noticeable decrease in Bitcoin dominance. Bitcoin's total cryptocurrency market share has dropped to around 59%. This change suggests capital is moving from Bitcoin to altcoins, including Ethereum.
$ETH Dominance
โ Rekt Capital (@rektcapital) August 8, 2025
Ethereum Dominance is already ~50-60% of the way in its Macro Uptrend#ETH #Crypto #Ethereum pic.twitter.com/regkPlcSeF
Popular trader and analyst Rekt Capital mentioned on X that "Ethereum dominance has already reached about 50-60% of its macro uptrend", comparing it to the previous bull market in 2021.
He predicted that Bitcoin dominance might temporarily rebound. However, he ultimately said it would "transition to a long-term technical downtrend". This analysis suggests the possibility of an "altcoin season" where altcoins generate significant gains compared to Bitcoin.
