The last few weeks have been decisive for ETH, a cryptocurrency that was quite stuck but seems to be shining again.
And after breaking its ATH a few days ago, surpassing values it hadn't reached since 2021, it is now positioned as the 22nd most valuable asset in the world, above Mastercard.
Ethereum is starting to consolidate within the global financial landscape.
In fact, behind this rise there are several very clear drivers. The first is in the Ethereum ETFs in the U.S., which have had historic weeks with multi-billion dollar inflows that have even surpassed Bitcoin ETFs. Just in the last week of August, the net flows into ETH ETFs were in the billions, with iShares leading strongly. This shows that large institutions are starting to look beyond BTC and are seeking to enter the crypto sector more strategically and functionally with options like ETH, a basic pillar of the sector.
On the on-chain front, the data is equally compelling. 80% of the current ETH supply is in profit, reflecting the confidence of holders despite volatility. At the same time, balances on exchanges have fallen to nine-year lows, reducing selling pressure. And whales are not falling behind: since the end of 2024, they have increased their positions by more than 9%, accumulating hundreds of millions in the second quarter of this year.
The Ethereum ecosystem is also stronger than ever. The total value locked in DeFi now exceeds $220 billion, consolidating its role as the basic infrastructure of the sector. The issuance and adoption of stablecoins, mostly on Ethereum, continue to grow and provide unprecedented liquidity to the entire decentralized financial system.
And in the meantime, the narrative strengthens: Bitcoin as digital gold, Ethereum as digital oil. Bitcoin maintains its role as a store of value, but Ethereum is the engine that drives applications, tokenization, and the finance of the future.
In exchanges like Binance, this greater prominence is also being reflected; in fact, in recent months, trading volume has skyrocketed and is now four times compared to the beginning of the year, with record activity from both retail and institutions. When interest surges on both fronts, it is clear that the market is setting trends.
Ethereum is not only breaking price records; it is also demonstrating that its narrative and fundamentals are stronger than ever. And the most interesting part is that, for many, this could just be the beginning of a new phase.
Will it manage to surprise us?
