Ethereum News Today: Ethereum Breaks Barriers as Whales Shift, Bitcoin Wanes

Ethereum’s price surged past $4,900 for the first time, reaching a new all-time high of $4,946 on August 24, 2025, marking a significant milestone in its five-year chart. This breakout was described by analysts as entering a phase of price discovery, where the market lacks prior resistance levels to guide price movements, relying instead on order flow and psychology. The rally followed a period of consolidation after the 2021 high, with buyers absorbing supply near previous ceilings before pushing the price higher. Analysts such as Miles Deutsher noted that while Bitcoin showed signs of exhaustion, Ethereum maintained strong momentum, signaling a potential shift in market leadership. Additionally, shrinking exchange reserves for ETH were cited as a contributing factor, as reduced liquidity on centralized platforms can drive prices upward due to increased bid competition.

Bitcoin’s performance, meanwhile, showed signs of fatigue as it approached a key weekly close near $114,000. The rally to nearly $117,500 earlier in the week faltered, reflecting broader market uncertainty. As Bitcoin’s momentum weakened, attention shifted toward Ethereum, where whale activity intensified. Data from Arkham and Lookonchain revealed that large Bitcoin holders were converting BTC into ETH, with one prominent whale purchasing over 278,490 ETH at an average price of $4,585. These movements underscored growing confidence in Ethereum’s potential, particularly as it approached a historically significant weekly close above $4,600. Traders and analysts alike suggested that a sustained close above this level could pave the way for further gains toward $5,200–$5,500 in the coming weeks.

Cardano (ADA) also drew attention as its price hovered near $0.92, consolidating within a symmetrical triangle pattern between $0.85 and $0.98. Analysts anticipated an imminent breakout, either to the downside toward $0.80 or upward toward $1.10–$1.15. Cardano’s long-term appeal lies in its methodical development approach and real-world applications, particularly in financial inclusion and identity management. However, its late entry into the smart contract space has left it with fewer applications compared to competitors like Solana and Tezos. Despite this, Cardano’s focus on scalability and security positions it as a contender in the next phase of blockchain adoption, though market analysts suggested that it might face short-term consolidation as investor interest shifts toward newer projects.

BlockDAG emerged as a standout performer in 2025, with its presale nearing $381 million in funding as of Batch 29. The project, currently priced at $0.0276 per token, attracted over 2.5 million miners and more than 19,350 ASIC hardware units sold, signaling robust infrastructure development. BlockDAG’s architecture combines Proof-of-Work with Directed Acyclic Graph (DAG) technology, enabling high throughput while maintaining security. Analysts projected a potential listing price of $1, which could yield a 35x return for early participants. The project’s EVM compatibility also made it attractive to Ethereum developers, offering a seamless migration path without requiring significant code rewrites. With 300-plus dApps already in development and a transparent testnet in operation, BlockDAG is positioned as a viable Layer 1 alternative to Ethereum, offering scalability and cost efficiency without compromising security.

The broader crypto market showed a clear preference for projects with measurable adoption metrics. Ethereum’s momentum, coupled with whale-driven ETH accumulation and Cardano’s technical resilience, highlighted the sector’s continued focus on established platforms. However, the rise of BlockDAG and other next-generation projects suggested that the industry was increasingly prioritizing innovation and scalability. As presale activity accelerated, investors sought exposure to projects with strong fundamentals and clear utility, with BlockDAG’s $381 million funding round and Cardano’s institutional adoption serving as key indicators of the market’s evolving priorities.

Source:

[1] As ETH breaks above USD4,900, analyst sums up crypto market: BTC is exhausted, ETH isn’t (https://www.coindesk.com/markets/2025/08/24/as-eth-breaks-above-usd4-900-analyst-sums-up-crypto-market-btc-is-exhausted-eth-isn-t)

[2] Bitcoin whales swap BTC for Ether as trader sees ETH hitting $5.5K next (https://cointelegraph.com/news/bitcoin-whales-swap-btc-for-ether-trader-sees-eth-hitting-5-5k-next)

[3] 1 Reason to Buy Cardano (ADA) (https://www.fool.com/investing/2025/08/20/1-reason-to-buy-cardano-ada/)

[4] Top Crypto To Buy In 2025: Why BlockDAG Could Deliver 35x Returns (https://blockchainreporter.net/blockdag-presale-nears-380m-the-0-0276-coin-everyones-calling-the-top-crypto-to-buy/)

[5] The Ethereum-Compatible Upgrade to Watch in 2025 (https://crypto-economy.com/379m-raised-and-25-2b-coins-sold-why-blockdag-is-becoming-ethereums-practical-successor/)

[6] BlockDAG Heads Toward $600M Presale (https://crypto-economy.com/blockdag-approaches-600m-presale-goal-can-it-become-the-years-breakout-crypto/)