Ethereum is pushing toward a fresh all-time high as the broader altcoin market heats up. In the last week ETH and Solana have posted outsized gains — ETH benefiting from heavy ETF inflows and institutional buying while Solana climbed past $200, revisiting prices not seen since earlier market cycles.
Data shows Ethereum ETFs attracted about $2.3b in inflows over six days, coinciding with a rise in on-chain activity and decentralized finance metrics. DeFi total value locked is at a three-year high, and BitMine recently increased an offering that could see it buy up to $25bn of ETH. Meanwhile, ETH derivative-asset trusts (DATs) now control roughly 2% of supply, and the Ethereum Foundation reportedly sold about $13m in ETH.
Market structure is shifting: Bitcoin dominance has fallen below 60% as altcoins capture more capital. Institutions now hold around 17% of circulating BTC, underlining continued institutional allocation to crypto treasuries and investment products.
That bullish backdrop comes with clear risks. On-chain analysis suggests up to $1.3b in leverage could be wiped out if ETH briefly spikes to $5k, and prediction markets show roughly 75% odds of ETH reaching that level by August 31. Traders should weigh these liquidation risks and the potential for rapid reversals as volatility climbs.
Other notable developments: ETHZilla shares jumped 3x after a reported Peter Thiel stake; Do Kwon pleaded guilty to fraud charges; Coinbase relaunched a stablecoin fund to support USDC; Bullish raised about $1.1b in an IPO oversubscribed 20x; and Binance joined the T3+ crypto crime unit.
Why this matters: inflows from ETFs and renewed institutional appetite are changing the narrative from retail-led rallies to capital-driven price discovery. That can sustain higher prices, but it also concentrates systemic risk in custodial and leverage-heavy venues. Investors should set clear risk-management rules and avoid overexposure.
Source: Decrypt. Read the original coverage for full details.