Ethereum has updated the maximum since 2021

On Saturday, August 9, Ethereum ETH $4,282.12 Bridged Ether (StarkGate) 2.41% Market capitalization $0.11 billion VOL. 24 hours $2.51 billion surpassed $ 4,300, reaching its highest level since late 2021 amid a weaker US dollar, expectations of a Fed rate cut in September, and growing institutional interest. This is more than 43% higher than at the beginning of the month.

The asset is outperforming bitcoin BTC $120,222.80 Bitcoin 1.47% Market capitalization $2.39 trillion VOL. 24 hours $3.01 billion due to capital rotation, redemptions from exchange wallets, and accumulation by corporate treasuries and ETF sponsors. The market was further boosted by the SEC’s announcement that liquidity staking services are not an offer of securities, which removes some of the regulatory uncertainty and paves the way for wider institutional participation in profitable ETH products.

The updated accounting standards allow certain stablecoins with guaranteed redemption terms to qualify as cash equivalents. In addition, new White House directives allowed the inclusion of cryptocurrencies in 401(k) plans and prohibited banks from refusing services to crypto companies solely because of reputational risks.

Real Vision analyst Jamie Coates noted that the change in the regulatory stance puts Ethereum «alongside AI as the basis for innovation and growth in the US economy.» According to him, the price momentum is influenced by inflows into ETFs, a reduction in supply through corporate treasuries, and the closure of short positions. Independent analyst Axel Adler Jr. pointed to $ 5 billion of inflows into ETH-ETFs and a record July transaction volume of $ 238 billion on the network, as well as stable exchange outflows of about 33,000 ETH per day, which indicates an increase in staking and a decrease in sales pressure.

Bitcoin’s dominance has declined from 62% to less than 58% over the past three weeks as investors shift capital to Ethereum amid a clearer regulatory framework and softer macro data. Analysts predict that with the Fed, the Bank of England, and other central banks «easing», ETH could continue to benefit from reflationary trading through the end of the year.