The rise in the price of ETH continued with an additional increase of 8.5% after a strong breakout from $4,300, following a brief period of consolidation. Popular cryptocurrency analyst Ali Martinez stated that, according to MVRV price bands, the altcoin could continue its climb to $5,241.
The blockchain analysis firm Santiment reported that as Ethereum approaches its all-time highs, retail traders have continued to sell. Historically, ETH prices tend to fluctuate against retail sentiment. Previous episodes of extreme greed on June 16 and July 30, 2025, led to corrections, Santiment noted.
On the other hand, while retailers sell, companies, on the other hand, are buying massively. On Tuesday, August 12, the ETH treasury firm Bitmine Technologies revealed its plans to sell shares for $25 billion for greater accumulation of ETH. This creates minimal resistance for the price of ETH to surpass its all-time highs.
Additionally, inflows into spot Ether ETFs surged again, with $500 million in net flows on Tuesday, after reaching $1 billion the day before. BlackRock's ETHA has led the majority of inflows, surpassing $10.5 billion, highlighting strong institutional demand.
On Tuesday, the daily issuance of ETH was at 2,428 ETH, while Ether ETFs withdrew 127,403 ETH. This means that ETFs bought approximately 52.4 times more ETH than the amount newly issued by the network today.