Ethereum was trading at $4,642.23 at 19:02 (16:02 GMT) on Investing.com Index on Friday, marking a 10.04% gain for the day. This was the sharpest daily increase in the cryptocurrency since May 10.
The cryptocurrency market reacted with growth to remarks by Federal Reserve Chair Jerome Powell, who hinted at readiness to cut the key interest rate in September.
Bitcoin reached an all-time high on Thursday, as the world’s largest cryptocurrency was boosted by growing expectations of a September interest rate cut and optimism over increased corporate buying.
The main drivers of Ethereum’s price growth, according to the bank’s analysts, are increased demand from large funds and crypto-accumulating companies, as well as the U.S. stablecoin legislation known as the GENIUS Act.
Fueled by a string of legislative victories and new financial initiatives, cryptocurrency investors are experiencing an upswing. Another wave of positive catalysts has given the crypto industry even more room for growth this week. Notably, the biggest headlines aren’t about Bitcoin, Yahoo Finance reports.
Ethereum surged close to record highs on Wednesday amid a wave of buying as corporate entities began accumulating the world’s second-largest cryptocurrency, mirroring the strategy used for Bitcoin.
Litecoin was trading at $131.36 at 06:02 (03:02 GMT) on the Investing.com Index on Wednesday, up 10.02% for the day. This marked the sharpest daily increase in the cryptocurrency since July 19.
On August 11, capital inflows into Ethereum ETFs issued by U.S. companies exceeded $1 billion for the first time in history.
Binance’s native token continues to show impressive momentum, surpassing traditional business giants like Nike ($185 billion) and DoorDash ($48 billion) in market capitalization. At the current price of $795 and a market cap of $120 billion, BNB has closely approached Interactive Brokers ($127 billion) and MicroStrategy ($135 billion).
This week, Bitcoin’s price is expected to surpass the all-time high set in July at $123,236.
Bitcoin rose on Monday, extending its strong rebound from the end of last week as crypto markets welcomed U.S. President Donald Trump’s executive order allowing pension funds to invest in the sector.
Analyst Ali Martinez highlighted a breakout of a bull flag on XRP’s weekly chart, which could pave the way for a significant rally. This formation, which developed from late 2024 to mid-2025, followed a previous price surge and represents a consolidation phase before the next upward move.
An analysis of Binance data over recent months shows that the rise in Bitcoin (BTC) prices may be driven by a supply shortage rather than an active inflow of liquidity.
Ethereum’s co-founder has commented on the growing trend of corporations accumulating the altcoin.
A sharp increase in liquidity suggests that Bitcoin (BTC) may be preparing for another short squeeze. As the price of the leading cryptocurrency climbs above $116,700, Bitcoin holds nearly $18 billion in leveraged short positions, with a liquidation zone showing near $120,000, according to CoinGlass data.
The price of the leading cryptocurrency surpassed $117,000 after U.S. President Donald Trump signed a new executive order on retirement savings.
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