Ethereum Hits New Record Price in Move Towards $5,000, Reaching a New All-Time High of $4,953 Yesterday

Ethereum touched the skies. Yesterday, $ETH hit $4,953, a brand-new all-time high. The second-largest crypto by market cap is now closing in on the big $5,000 mark.

But the rest of the market? A bloodbath.

The crypto market fell 3% in the past 24 hours. That slide wiped out $807 million in liquidations. A brutal $642 million came from long positions alone. Most major altcoins sank 4–6%.

Quick numbers:

  •  $BTC: $111,347 ▼ -3.02%
  •  $ETH: $4,548 ▼ -3.61%

Ethereum still looks stronger than Bitcoin.

Ethereum vs Bitcoin: The Big Shift

Ethereum is beating Bitcoin across multiple fronts. Analysts point to rising CME Open Interest on ETH contracts. Retail traders haven’t even piled in yet. That suggests ETH’s outperformance could continue in the short to medium term.

The blockchain data backs this up.

Last week, active Ethereum addresses hit 3.8 million. Yes, that’s down from the early August peak. But activity remains way above previous bull cycles. Ethereum’s network stays busy even when the broader market cools.

Institutional players are loading up.

Bitmine just added 190,000 $ETH last week. Their total stash? 1.71 million Ethereum. That’s massive.

Tom Lee from Bitmine explains:

“At BitMine, we are leading our crypto treasury peers by both the velocity of raising crypto NAV per share and by the high trading liquidity of our stock.”

Numbers don’t lie. NAV at Bitmine was $22.84 in July. Now? $39.84. That’s nearly doubled in just months.

And there’s more coming.

Every sell-off gives treasuries cheaper ETH to scoop up. They’re not slowing down.

ETH hitting new highs is one thing. Treasuries grabbing 5% of supply and staking it? That’s another level of bullishness. Analysts say that would create strong risk-reward setups for investors looking at Ethereum’s next run.

Right now, ETH treasuries are gaining momentum fast.

As one trader put it:

“If Ethereum keeps outperforming, these asset classes are going to capitalize on the momentum. It’s incredible to see this space unfold.”

Ethereum’s fundamentals and institutional demand seem to be feeding off each other.

$5,000 in Sight For Ethereum

With ETH already brushing against $5,000, traders see the next breakout as inevitable if momentum holds.

Short-term pullbacks? Treasuries and whales are buying them all. The current dip gave big players a discount window. Retail hasn’t even fully stepped in yet, another bullish sign.

For now, Ethereum’s price action, on-chain activity, and institutional accumulation are setting it apart from Bitcoin.

Ethereum now sits at the center of the crypto conversation.

Bitcoin remains the king by market cap. But Ethereum? It’s showing the stronger chart, the busier network, and the deeper institutional interest.

The road to $5,000 might see more volatility. More dips. More liquidations. But if history and the current data rhyme, Ethereum could be leading the market into its next big chapter.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Source: https://nulltx.com/ethereum-hits-new-record-price-in-move-towards-5000-reaching-a-new-all-time-high-of-4953-yesterday/