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ETH breaks out on strong spot demand.

Bitcoin

Written by The Kaiko Research Team

25/08/2025

    Welcome to the Data Debrief!

    Welcome back to the Data Debrief! ETH broke its 2021 all-time high over the weekend, reaching as high as $4,996 on some cryptocurrency exchanges and outperforming BTC in both price and volume. It later eased to around $4.6k on Monday, but volumes remain strong, indicating the rally still has momentum.


    • ETH breaks above its 2021 all-time high

    • U.S. exchanges are ramping up listings of stablecoin‑denominated pairs

    • In 2025, XRP leads the optimal large‑cap portfolio

    Chart of the Week

    ETH breaks out on strong spot demand.

    Ethereum finally broke above its 2021 all-time high after Fed Chair Powell’s Jackson Hole remarks boosted risk assets. ETH surged more than $600 within hours on Friday, set a new record that day and another on Sunday, then eased as traders took profits. Even after the pullback, liquidity and volumes remain supportive for ETH.

    Since July, the ETH/BTC price ratio has trended higher, indicating ETH’s price has risen faster than BTC. ETH has also outperformed other large caps like SOL and XRP, supported by steady ETF inflows and reported corporate treasury buying.

    Trading volumes also reflect the momentum. July posted a YTD high for ETH monthly volume, with several sessions where ETH turnover surpassed BTC on major centralized exchanges.


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