Ethereum News Today: Ethereum Surges 26% as Altcoins Gain 9% in Bullish Market Shift

Cryptocurrencies experienced a strong bullish week in early August 2025, with Bitcoin reaching a record high of over $118,000 and Ethereum breaking through a critical resistance level at $4,100. The market has shown sustained upward momentum, with daily trading volume surpassing $170 billion and the total market cap nearing $4 trillion. While Bitcoin’s dominance has slightly declined to 52%, Ethereum’s performance has driven optimism across the broader crypto ecosystem [1][5].

Ethereum’s recent price action has been particularly noteworthy. The token surged over 26% in the week leading up to August 2, breaking through $4,300 and retreating slightly before retesting the $4,400 level [2]. On the technical side, ETH remains supported at $4,000 and $3,960, with its RSI at 68.84, indicating potential for further upward movement without entering overbought territory [6]. Open interest in ETH increased by 13.88% within 24 hours, and the long/short ratio stands at 1.53, reflecting strong bullish positioning [6]. Analysts are closely watching the $5,000 level as a key psychological threshold [3].

The broader altcoin market has also benefited from Ethereum’s gains. RAY Coin led the charge, rising over 15% in a single day and 36% in a week, making it one of the top performers among the top 100 cryptocurrencies. AERO Coin followed with a 56% weekly increase, while KCS and LDO also posted gains of 12% and a crossing above $1.3, respectively [1]. The recent SEC approval of liquid staking has notably contributed to LDO’s performance, with its potential being highlighted in market analysis [1].

Smaller-cap projects have also seen increased activity, with Solana and Dogecoin posting double-digit gains. Market observers are speculating about an ongoing “altcoin season,” driven by the broader market's shifting balance in favor of Ethereum-based assets. Ethereum Treasury Companies are also expected to provide long-term structural support to the network [1]. Meanwhile, Ethereum-based presales and meme coins are attracting new capital. For example, Maxi Doge (MAXI) has raised over $500,000 in under two weeks, with analysts from 99Bitcoins forecasting a 100x return for early investors if the project mirrors the success of Dogecoin and Shiba Inu [7].

Despite the strong upward trend, analysts have warned that the market remains highly volatile. A rapid influx of speculative capital could lead to sharp corrections if key price levels fail to hold. However, the current trajectory suggests continued strength for Ethereum and its ecosystem in the short to medium term [5].

Source:

[1] Nasdaq: [Should You Forget XRP and Buy This Soaring ...](https://www.nasdaq.com/articles/should-you-forget-xrp-and-buy-soaring-cryptocurrency-instead)

[2] The Economic Times: [Cryptocurrency Live News & Updates : Trader Shares Key ...](https://m.economictimes.com/crypto-news-today-live-10-aug-2025/liveblog/123209774.cms)

[3] CryptoDnes.bg: [Ethereum Price Prediction: ETH Soars 26% as Bulls Target ...](https://cryptodnes.bg/en/ethereum-price-prediction-eth-soars-26-as-bulls-target-5000-next/)

[4] CryptoDnes.bg: [Best Crypto Presales to Buy as Ethereum Rallies Past ...](https://cryptodnes.bg/en/best-crypto-presales-to-buy-as-ethereum-rallies-past-4200/)

[5] AInvest: [Bitcoin dominance drops to 52 as altcoins gain 9%](https://www.ainvest.com/news/bitcoin-news-today-bitcoin-dominance-drops-52-altcoins-gain-9-11-week-2508/)

[6] Twitter Post (August 9, 2025): [https://twitter.com/TedPillows/status/1954085694235681008](https://twitter.com/TedPillows/status/1954085694235681008)