$ETH The price of Ethereum (ETH) on Tuesday surpassed the $4600 mark, reaching an intraday high of $4629 per token on Deribit. In the last 24 hours, Ethereum gained 8% against the US dollar and rose nearly 28% over the week.
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ETH reaches $4.6K, just 7% off its all-time high
The rally shows no signs of slowing down. Since January 1, 2025, Bitcoin (BTC) has risen more than 28%, while Ethereum has increased by more than 38% over the same period. At the time of publication at 8:56 AM Eastern Time on the centralized exchange Deribit, Ethereum was trading at $4,664, giving the asset a market capitalization of $549 billion. It is now within reach of its record high of $4,878 from November 10, 2021 — less than 7% away from recovering that mark.
Since September 10, 2022, when ETH was valued at 0.082 BTC, its price fell to 0.019 BTC by April 19, 2025. Since then, it has sharply recovered, doubling to 0.038 BTC. During the decline, Ethereum faced stiff competition from networks like Solana, while even Bitcoin began to intrude into sectors led by ETH, such as non-fungible tokens (NFTs) and decentralized finance (DeFi).
Now Ethereum is confidently starting to outpace Bitcoin in inflows to exchange-traded funds (ETFs) and corporate treasury stocks. With the price surge on Tuesday, ETH experienced about $144.55 million in liquidations, including $107.19 million just from short positions on Ethereum. By 4:22 PM (August 12) Eastern Time, ETH exceeded $375.74 million in total liquidations for the day. On X, a growing number of users predict that Ethereum will rise much higher.
