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
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
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