Altcoin Outperforms Bitcoin With 7% Daily Gain

TLDR

• Over $116 billion entered the global token market in 24 hours
• ETH price rose approximately 7%, approaching its all-time high of $4,892
• Altcoins outperformed Bitcoin, potentially signaling the start of an altseason
• Ethereum is trading at around $4,750, less than 5% below its record high
• Strong institutional demand and Layer 2 adoption are driving ETH’s upward momentum

Ethereum’s price has surged in recent hours, climbing nearly 7% as part of a broader market movement that saw over $116 billion flow into the global cryptocurrency market within a 24-hour period.

At press time, ETH is trading at approximately $4,750, putting it within striking distance of its all-time high of $4,892.

The latest price action has positioned ETH less than 5% away from breaking its previous record. Market data shows ETH rising from around $4,300 to $4,700 during this recent push.

This upward movement comes as altcoins broadly outperformed Bitcoin. While BTC gained less than 1% over the past day, ETH’s 7% increase stands out as a much stronger performance.

Trading volume for ETH has been robust, reaching close to $61 billion over 24 hours. This reflects heightened market activity compared to earlier in the week.

ETH’s market capitalization now stands near $575 billion, strengthening its position as the second-largest cryptocurrency by market value.

Analysts have noted that breaking above the $4,500 level represents a key technical achievement. This places ETH in a price range not seen since its previous all-time high period.

Market Sentiment and Technical Analysis

Several market analysts have commented on ETH’s recent price movement. Doctor Profit, known for price trend analysis, observed that Ethereum had been moving sideways for an extended period before this breakout.

Another analyst pointed out that ETH appears to be exiting a four-year consolidation range. They drew comparisons to a past breakout pattern that preceded a 20-fold increase over a year-long period.

While market conditions in 2025 differ from previous cycles, the breakout pattern shows notable similarities that have caught traders’ attention.

Technical indicators at press time show momentum pointing toward strong buying interest. The Relative Strength Index (RSI) sits at elevated levels but hasn’t reached extreme territory that might signal an imminent reversal.

The sustained inflow of capital into the broader token market, combined with ETH holding above the $4,500 level, could maintain upward pressure on the price.

Institutional Involvement and ETF Influence

Institutional activity appears to be a key driver behind ETH’s recent performance. Reports indicate that BitMine Immersion Technologies has accumulated approximately 1.2 million ETH since July, valued at around $5.5 billion.

This corporate accumulation, combined with record-setting ETF inflows including activity in BlackRock’s ETHA fund, is creating structural support for ETH’s price.

Rachael Lucas, an analyst at BTC Markets, noted: “When you combine record ETF inflows with corporate and sovereign balance sheet allocations, the result is deep structural demand meeting finite supply.”

Fundstrat Capital’s Thomas Lee has reinforced this bullish outlook, describing ETH as “arguably the biggest macro trade for the next 10 to 15 years.” He points to artificial intelligence adoption and Wall Street’s growing blockchain integration as long-term catalysts.

Send $ETH to $8,000 with haste! pic.twitter.com/KEKNM8Ot6n

— CryptoGoos (@crypto_goos) August 13, 2025

Layer 2 Ecosystem Growth

Ethereum’s Layer 2 solutions, including networks like Arbitrum, Optimism, and zkSync, continue to see increasing transaction volumes. These scaling solutions are helping to reduce gas fees and enhance the network’s overall scalability.

Market observers believe this expansion strengthens ETH’s appeal to both retail and institutional users. Agne Linge, Head of Growth at WeFi, remarked: “The market sentiment for Ethereum is very positive. Layer 2 adoption and institutional accumulation are reinforcing each other.”

The next key resistance for Ethereum price remains its all-time high near $4,892. A decisive break above that level would mark a new record for the token.

Market participants are closely monitoring whether altcoins can continue to outperform BTC in the short term, which would support the narrative of an emerging altseason.

At press time, ETH traded near its session highs with several analysts projecting potential targets ranging from $5,000 in the short term to as high as $10,000-$15,000 by year-end.

The most recent data shows Ethereum trading at around $4,750, up 2.75% in the last 24 hours.