Record transaction, demand level drive ETH rally toward new price peak

Ethereum recorded unprecedented levels of market activity in the past 24 hours with daily transactions reaching an all-time high of 1.875 million, according to CryptoQuant analysis. The increase in on-chain activity follows ETH’s price approaching its historical peak of about $4,750.

Today, the ETH price saw a 0.6% increase to about $4,670, which placed it within 5% of its ATH price recorded in November 2021. On-chain data shows Ethereum’s 30-day simple moving average (SMA30) for net inflows has fallen to -40,000 ETH, indicating a sustained withdrawal from exchanges.

According to cryptoQuant analysis, the continued negative netflows suggest a persistent buying pressure that could continue to push the price up. 

Ethereum’s global search surge coincides with rally towards ATH

Google Trends data shows that Ethereum’s global search interest climbed to its highest level since 2021. The recent spike was driven by countries including North Macedonia, Switzerland, Singapore, and Austria, showing a growing international interest in the blockchain.

The surge coincided with the token’s ongoing heightened market activity, which recorded 1.875 million daily transactions, an all-time high. 

Ethereum Approaching Price ATH While Transaction Count Hits Record High

“Ethereum’s network activity has surged to unprecedented levels, with daily transactions reaching an all-time high of approximately 1.875 million.” – By @CryptoOnchain pic.twitter.com/IdZkVHAdTZ

— CryptoQuant.com (@cryptoquant_com) August 13, 2025

Data from Strategic ETH Reserves shows a current growth in institutional demand, with Ethereum-focused treasuries holding approximately $16.5 billion worth of ETH. Some publicly traded institutions have incorporated Ethereum into their treasuries as an alternative financial tool. Staking enables them to generate passive income while contributing to the network security. 

ETH and its staking-linked tokens have recorded more than 20%, including ETH and Lido Staked Ether (STETH). Data from CoinGecko shows both assets rallying towards the top 15 cryptocurrencies by market cap.

Spot Ethereum ETFs have also recorded high inflows. On Monday, net inflows of $1.01 billion were recorded, led by BlackRock’s ETHA and Fidelity’s FETH. According to SoSoValue data,  BlackRock’s ETHA recorded $640 million, followed by Fidelity’s FETH at $277 million. Cumulative recorded inflows reached ~$10.8 billion plus a $25.7 billion in total assets under management. 

Some analysts have attributed the growing institutional interest in spot ETH, large allocation from big fund managers, and attention around the ETFs as the key drivers for the high inflows. The growth in net inflows has contributed to driving the ETH price beyond $4,000. 

ETH gains 25% in August, outpacing Bitcoin’s 3% gain 

Piyush Walke, derivatives research analyst at Delta Exchange, revealed that Ethereum has outperformed BTC in the past few weeks, rising ~25% in August against BTC’s 3% increase. Walke attributed the disparity to stronger institutional inflows such as BlackRock and Fidelity, technical breakouts, and overall positive investor confidence around Ether ETFs. 

Ryan Lee, chief analyst at Bitget, cited Ethereum’s growing role in DeFi and Web3 and macroeconomic signals from US inflation data as the key drivers of the current momentum in ETH price. He pointed out that President Trump’s executive order to incorporate cryptocurrencies in 401 (k)s could have a potential long-term impact. 

Institutional purchases from BitMine and SharpLink have also driven the ETH price towards its ATH. SharpLink has accumulated over 600,000 ETH, valued at about 2.7 billion. It recently raised nearly $900 million in capital to advance the treasury strategy. BitMine, on the other hand, has accumulated around 625,000 ETH, maintaining its leadership in corporate ETH reserves.

Whale activities have also added close to $200 million in direct ETH purchases.

The current price sits below a resistance zone with investors awaiting a possible breakout or a reversal in price. According to market analysts, ETH could hit another all-time high if the price breaks out of the resistance zone. Alternatively, if a reversal occurs, it could trigger a short-term consolidation below the resistance zone. 

Ethereum co-founder Vitalik Buterin has warned that overleveraging could pose a potential risk if large liquidations occur. 

Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free.