Ethereum breaks $4K after 7 failed tries, hitting $4,332.60 before consolidating near $4,211.48.
DeFi TVL nears $92B, stablecoins at $137B, with DEX volumes topping $4.28B in 24 hours.
SharpLink buys $85M ETH; ETF inflows hit $461M in a day, pushing price toward key resistance levels.
Ethereum has finally moved above the $4,000 mark after seven failed attempts since 2021. The breakout follows a strong rally in 2025 and has placed the cryptocurrency within reach of its previous all-time highs. At the time of writing, ETH was trading around $4,182 on Binance.
Breakout Supported by DeFi Growth and Trading Volume
Based on analysis prepared by Merlijn The Trader, Ethereum traded as high as $4,332.60 before consolidating near $4,211.48. This represents a 20.44% gain over the past two weeks. Historical records show the first three failed attempts between late 2021 and early 2022, followed by three more between mid-2024 and early 2025.
https://twitter.com/MerlijnTrader/status/1954588559903510998
The seventh attempt in August 2025 resulted in a confirmed break. Data from DefiLlama shows Ethereum’s Total Value Locked (TVL) in DeFi at $91.996 billion, with a 0.10% daily increase. The network’s stablecoin market capitalization stands at $137.162 billion, while decentralized exchange trading volume over 24 hours reached $4.283 billion.
These metrics point to growing activity within the Ethereum ecosystem, adding to the strength of the breakout. Trading volume on Binance and other major exchanges has also increased, indicating participation from both institutional and retail traders. Analysts note that whale activity and ETF inflows have further reinforced the upward move.
Large-Scale Buying and Technical Targets
Large-scale participation has been notable during this rally. According to an observation by The Boss, SharpLink Gaming expanded its ETH holdings to $2.12 billion following an $85 million acquisition on August 8.
Spot ETH ETFs have recorded twelve straight weeks of inflows, totaling over $5 billion by July, with $461 million entering on August 9 alone. From a technical perspective, Ethereum has moved above the $4,193 Fibonacci 1.618 extension.
Key resistance levels to watch include $4,391 and $4,532, with extended targets at $4,712 and $4,868. Support is seen at $4,150 and $3,470. Analyst Michael Van De Poppe stated that if Bitcoin corrects, ETH could revisit $3,700–$3,800, which he views as a potential accumulation range.
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