Ethereum News Today: Ethereum Surges 70% in a Month, Drives $100M in Short Liquidations

Ethereum has made a significant impact on the cryptocurrency market, surpassing $3,800 and driving a wave of liquidations of short positions. This surge, bolstered by strong technical indicators and increased demand, has placed Ethereum back in the spotlight. Several altcoins are also benefiting from this momentum, potentially marking a turning point for the broader crypto market.

Ethereum's price has risen sharply, approaching $4,000 after a 70% increase over the past month, marking its highest level of the year. Over $100 million in short positions on ETH were liquidated within 24 hours, according to Coinglass. This liquidation wave was triggered as Ethereum crossed the $3,000 threshold, reaching an annual high of $3,775 on July 21. The rise of ETH has also shifted the power balance with Bitcoin, with the ETH/BTC ratio increasing by 40% over four weeks, reaching 0.03184, its highest this year.

The scale of Ethereum's movement is surprising, given its months of stagnation. The 70% increase over the past four weeks reflects a strong reactivation of demand. This bullish momentum is supported by several fundamental signals, including whale activity, growing institutionalization, technical prospects, and record adoption. For instance, a large investor acquired 13,500 ETH for $50 million USDT, and the listed company SharpLink became the largest corporate holder of ETH after purchasing 280,706 cryptos, valued at $1.06 billion. Ethereum faces a key resistance at $4,100, and if broken, an acceleration towards $5,000 could occur in the short term. Ethereum now has 152.03 million active wallets, a record across all blockchains.

These on-chain data confirm that Ethereum’s resurgence is not isolated but integrated into a context of overall recovery, supported by both institutional and strategic actors. While Ethereum’s rise has drawn attention, several altcoins in development or consolidation phases have taken advantage to capture investor interest. Among them, Snorter Token ($SNORT), a project focused on a Telegram trading bot, seems to be standing out. The product is distinguished by its approach aimed at retail investors, enabling any user to place orders directly from Telegram, with advanced security features. The project, still in the presale phase, has already raised $2.18 million and offers its tokens at $0.0989 each. According to internal projections, the cryptocurrency’s price could reach $1.96 by 2026, representing a 1,900% return.

Another project riding the Ethereum wave is Bitcoin Hyper ($HYPER). It offers a Layer 2 solution dedicated to Bitcoin, using the Solana Virtual Machine to facilitate interoperability with Web3 applications. This L2 allows converting BTC into wrapped BTC via a canonical bridge, to be used in DeFi, gaming, or NFTs. The project has already raised $3.9 million, and the $HYPER token currently trades at $0.01235, with a target of $0.08625 by 2026. Meanwhile, FLOKI, an OG from the meme universe, is seeing renewed interest driven by Valhalla, its NFT-based gaming ecosystem. Since the platform launch on July 1st, over one million transactions have been recorded, and 125,000 NFTs have been mined. The token has jumped 92% in the past four weeks, with analysts forecasting an additional 50 to 80% potential gain.

These altcoin dynamics show that Ethereum acts as a sector catalyst. If technical resistances such as the $4,100 level were to be broken, this could accelerate a broader market uptrend, notably for projects in launch or adoption phases. The resurgence of Ethereum and the subsequent rise of altcoins indicate a potential turning point for the crypto market, driven by strong technical signals and increased demand. The overall recovery is supported by both institutional and strategic actors, suggesting a structural enthusiasm beyond a simple technical rebound.