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The Ethereum price climbed a fraction of a percent in the last 24 hours to trade at $4,403 as of 3:50 a.m. EST on a 3% decrease in trading volume to $35.54 billion.
The jump in the ETH price comes after news that monthly spot trading volume for ETH overtook Bitcoin on centralised exchanges for the first time in seven years, sending a strong signal that investor focus is shifting.
Major institutional players like Tom Lee’s BitMine are also betting big, with another $167 million Ethereum purchase pushing optimism even higher, its second large purchase in under a week.
TOM LEE’S BITMINE (@BitMNR) JUST BOUGHT ANOTHER 28,650 ETH ($130,000,000)$BMNR now holds 1.174M $ETH valued at $5.26 BILLION DOLLARS
Bitmine now holds almost 1% of the TOTAL ETH SUPPLY
The biggest ETH treasury just got bigger, Tom Lee isn’t playing around 🔥 pic.twitter.com/xtFWWoDiRw
— Crypto-Gucci.eth ᵍᵐ🦇🔊 (@CryptoGucci) August 15, 2025
These changes put the ETH price forecast in the spotlight as traders and analysts watch for the next move. New data confirms that in August ETH’s monthly spot trading volume soared to about $480 billion, eclipsing Bitcoin’s $401 billion over the same period.
Analysts credit this boom to more active institutional participation, growing adoption of DeFi, and ETH ETF inflows that reached nearly $4 billion while Bitcoin spot ETFs saw net inflows.
Could $ETH actually flip $BTC?@ethereumJoseph says Ethereum’s monetary base size could “eclipse” Bitcoin’s within a year.
So far @SharpLinkGaming has purchased 521k+ ETH worth $2.2B.
They are one of the leading entities within the new wave of treasury companies stacking ETH… pic.twitter.com/Gt4g8SOhwm
— Milk Road (@MilkRoadDaily) August 10, 2025
Bloomberg analyst James Seyffart says a new “Altcoin Season” is now underway, driven by new treasury allocations and ETF inflows. That activity is helping lift confidence and the ETH price even as Bitcoin’s price appreciation slows.
Are you ready for a new era in cryptocurrency investment? According to Bloomberg ETF analyst James Seyffart, the highly anticipated corporate altseason isn’t just coming—it’s already underway.https://t.co/W7ahWROLBe pic.twitter.com/5PNZjOozeK
— BitcoinWorld Media (@ItsBitcoinWorld) September 5, 2025
Ethereum On-Chain Activity
Ethereum on-chain activity is backing up the bullish news. The total value locked in Ethereum’s DeFi apps remains above $100 billion, with new wallets and active addresses hitting fresh highs.
Ethereum Active Addresses Source: Etherscan
More ETH is flowing into staking contracts, and exchange reserves are at a three-year low, suggesting holders are moving coins into long-term positions instead of selling.
Ethereum Total Value Locked Source: DeFiLlama
Large-scale OTC moves, like the recent BitMine acquisition, and sizeable fund inflows signal that whales and institutions are driving much of this growth.
Meanwhile, increased ETF interest and new multi-asset funds targeting Ethereum have cut down supply on exchanges, supporting a healthy coin price foundation. The latest trends show that buyers are not just speculating, they’re staking and locking up tokens, making fewer coins available for trading.
This dynamic often leads to higher volatility and upward pressure when demand kicks in, especially if new ETF approval or another wave of institutional buys arrives.
ETH Price Chart Holds Above Key Support
The ETH price is now trading close to $4,408.91, with buyers defending support at $4,115.73 (the 50-day simple moving average) and staying comfortably above the 200-day moving average at $2,721.70.
This bullish setup is clear on the daily chart, as ETH continues to make higher highs and higher lows inside a wide rising channel.
ETHUSD Analysis. Source: Tradingview
A critical resistance remains at $4,957.51, the area that capped the rally earlier in August. If buyers can break out above this level, ETH price could quickly advance to $5,200 or even higher. If ETH stalls or dips, strong support comes in around $4,115, followed by a larger safety net near $2,721, where the long-term trend is anchored.
Key indicators show why traders remain bullish. The MACD is in positive territory, signalling buyers are still active, but some short-term momentum loss is visible. RSI is at 55.01, showing ETH is not overbought and still has room to run.
ADX sits at 21.25, revealing the trend is firm but not yet overheated. Bulls have the upper hand, but there is no sign of crazy speculation.
If more institutional capital enters and ETF inflows hold steady, a move to new all-time highs above $5,000 could come soon. With spot volume at new records and big names like BitMine adding to their ETH holdings, the ETH price outlook is strong.
Analysts now say that a breakout above $4,950 could quickly push the ETH price toward $5,200 or higher, especially with big ETF and treasury inflows on the horizon.
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