Ethereum (ETH), the second largest cryptocurrency by market cap, hit $4,326 on Saturday, its highest since December 2021, in a four-day rally fueled by massive short liquidations. 🚀💰
Ethereum broke above $4,000 for the first time since December 2024 on Friday, setting the stage for a higher move. It’s like the cryptocurrency version of a Broadway comeback! 💃
The second-largest cryptocurrency was trading at $4,190 at press time, marking a 20% weekly gain. From its April 9 low of $1,383 to Saturday’s high of $4,326, the ETH price is up nearly 213%, thanks to surging investor flows into Ethereum spot exchange-traded funds and growing demand from companies accumulating ETH on their balance sheets. It’s like a crypto Black Friday sale, but in reverse! 🛒🎉
More than $6.7 billion has poured into the nine U.S.-listed Ether spot ETFs year to date. Meanwhile, Ethereum-focused treasury firms have scooped up more than $12 billion in ETH. That’s more money than I’ve ever seen in my life, and I’ve been to a lot of fancy parties! 🎩💎
Ethereum’s momentum also coincides with a broader rotation within digital assets, as institutional investors and developers look beyond Bitcoin amid increased adoption of stablecoins, tokenized real-world assets, and smart-contract platforms, all of which run on the Ethereum blockchain. It’s like Ethereum is the new kid on the block, but it’s already running the show! 🏆🔥
Peter Brandt Stunned by ETH Rally
Veteran trader Peter Brandt, who has often been an Ethereum critic, has reacted to the ETH price move. Brandt, known for his sharp tongue and even sharper trading skills, seems to be having a change of heart. 🤔
This is one of my favorite charts right now
– Peter Brandt (@PeterLBrandt) August 9, 2025
Brandt previously confessed that he usually prefers not to say anything good about Ethereum, once calling it a “broken utility coin.” This attitude has earned him a reputation as an “ETH hater” in the crypto community. But hey, even the grumpiest of us can be won over by a good chart, right? 😂
In a recent tweet, Brandt wrote, “This is one of my favorite charts right now,” accompanied by the ETHUSD weekly chart. This statement implies that the commodity trader might be softening his stance on ETH. It’s like he’s saying, “Okay, maybe Ethereum isn’t so bad after all.” 🤷♀️
Ethereum’s latest gain might not come as too much of a surprise for the legendary trader: In May, Brandt pointed out a massive congestion zone on the monthly chart that could support a moonshot. Looks like he saw this coming from a mile away! 🌠
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2025-08-10 16:55