Ether has exceeded the price point of $4,500 on Tuesday, August 12 for the first time since 2021. At the time of writing, ETH was trading at $4,506, having registered a price hike of 6.24 percent in the last 24 hours.
Data by CoinMarketCap shows that ETH is mildly volatile at the time, and could test being steady at $4,500.
The last few weeks have been quite high-octane. On August 11, spot ETH ETFs reportedly roped-in inflows worth $1.01 billion — clocking their biggest day of inflows since being launched in July 2024. In contrast, BTC ETFs witnessed inflows worth $178 million.
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The investor community reacted to the development with optimism on X, with many predicting ETH rally to continue.
As ETH rallies, most other cryptocurrencies are also tapping into profits.
CoinMarketCap shows Ripple, Tether, BNB Coin, Solana, and USDC retailing at minor gains. At the time of writing, BTC was trading at $119,680 having logged a minor hike of 0.86 percent.
Also read: Ethereum developer ‘Fede’s Intern’ detained in Turkey, released after 24 hours
