The price of ETH set a new all-time high (ATH), climbing above $4,900. The key drivers behind the rally were growing institutional interest in spot Ethereum ETFs and companies increasing reserves based on the asset.
On August 24, 2025, Ethereum surpassed $4,900 for the first time, reaching an ATH of $4,946, according to CoinGecko. Overall, ETH gained 8% over the past seven days. At its peak, the asset’s market cap exceeded $597 billion. As of 16:00 (GMT+2) on August 25, the price of ETH stands at $4,624.
Ethereum set its first ATH since 2021 just two days earlier, on August 22, when the asset hit $4,845. The price surge triggered mass ETH futures liquidations. According to CoinGlass, as of 12:00 (GMT+2) on August 25, the total liquidation volume reached $890.94 million, with about 62% coming from short positions.
Analysts highlight several key catalysts behind ETH’s growth:
- U.S. Fed Chair Jerome Powell’s statement that the key interest rate could be cut as early as September.
- Spot Ethereum ETFs recorded significant inflows — $287 million on August 21 and $337 million on August 22.
- Corporations expanded Ethereum reserves to $29.75 billion, acquiring roughly $1.6 billion worth of ETH in August. This marks the second consecutive month of rising adoption of ETH for treasury reserves.
- Open interest in ETH derivatives grew to $33.2 billion as of August 23, 2025.
Despite optimism about further price growth, analysts also warn of a seasonal trend — historically, ETH prices tend to fall in September. Since 2016, whenever ETH rose in August, September showed a negative correction, averaging a 6.4% drop.
The Ethereum team recently unveiled a ten-year roadmap for the blockchain, which includes proposals to simplify the transaction fee structure. Moreover, 12 major Ethereum community events are scheduled for September.
