Ethereum News Today: Ethereum Nears All-Time High on Record $47B Altcoin Leverage and 3.46% 24-Hour Gain

Ethereum (ETH) has moved within 3.9% of its all-time high, demonstrating renewed strength amid a broader altcoin rally. As of 10:41 pm UTC on August 13, 2025, Ethereum was trading at $4,756.91, up 3.46% in the past 24 hours. The price is only 2.7% away from its record high set in November 2021. The surge has been supported by a record $47 billion in leverage across major alternative cryptocurrencies, according to data from Glassnode [1]. This marks a significant increase in speculative activity and risk-on positioning in the crypto markets [2].

The altcoin sector has shown robust performance, with Ethereum and Dogecoin each gaining 25.5% over seven days, while XRP rose 16.2% and Solana climbed 13.6%. This broad-based strength has been attributed to a shift in capital from Bitcoin to altcoins, as reflected in market-cap-weighted returns that have crossed statistical thresholds in recent months. Glassnode highlights that the current environment reflects an intensifying speculative bid and a heightened appetite for high-beta assets outside Bitcoin [3].

Ethereum’s momentum has also been fueled by strong ETF inflows, institutional accumulation, and a favorable macroeconomic backdrop. Jag Kooner, head of derivatives at Bitfinex, notes that softer-than-expected consumer price index (CPI) data has bolstered expectations for interest rate cuts, which has driven renewed long positioning in both Bitcoin and Ethereum [1]. The broader macroeconomic optimism has encouraged traders to take on more risk, further amplifying the altcoin rally [2].

Options activity on Ethereum has intensified, with open interest reaching a year-to-date high of approximately $16.1 billion. This surge in options trading reflects strong demand for exposure to potential price breakouts. Call premiums have consistently outpaced put premiums, with traders paying $82 million in options on August 8 and $31.5 million on August 11. Despite the elevated open interest, implied volatility remains low, signaling market expectations for a sharp price move while limiting downside risk [3].

Glassnode data also shows that traders are paying premiums for upside convexity as Ethereum approaches all-time highs. Kooner adds that compressed volatility suggests that any macroeconomic shock could trigger significant price swings, emphasizing the sensitivity of the current market environment [1].

The broader crypto market has also seen increased activity, with the total market cap reaching $4.16 trillion and a 24-hour trading volume of $241.62 billion. Ethereum’s market capitalization stands at $574.2 billion, with a 24-hour trading volume of $63.35 billion. Bitcoin’s dominance currently sits at 58.78%, indicating a continued but not overwhelming concentration of capital within the leading cryptocurrency [1].

The record leverage and options positioning in Ethereum underscore a market that is increasingly confident in its ability to break through historical price levels. However, the concentration of risk and speculative positioning also introduces potential for volatility, particularly in the face of macroeconomic surprises or regulatory shifts.

Source: [1] Ethereum Nears All-Time High as Altcoin Leverage Reaches Record $47B Levels (https://cryptoslate.com/ethereum-nears-all-time-high-as-altcoin-leverage-reaches-record-47b-levels/)