Ethereum Surges Nearly 30% in Days, Tops $2,400 for First Time Since May
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21.08.2026 22:55
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2 min read
The second-largest cryptocurrency by market cap has staged a powerful rally: on August 21, Ethereum’s price broke through the $2,400 mark, hitting a local peak of around $2,447. Just on August 17–18, the coin was trading near $1,900 — a cumulative gain of roughly 25–29% in a matter of days, according to historical trading data from Investing.com.
The main price surge came on August 19, when ETH’s daily gain exceeded 17.5%, significantly outpacing Bitcoin’s +6% over the same period.
Record ETF Inflows and Institutional Factor
Beyond the cascade of short liquidations (short squeeze), the rally’s main foundation was a sharp return of institutional capital.
According to Yahoo Finance analytics and industry reports, US spot Ethereum ETFs have seen a record streak of inflows:
- August 19: net inflows reached $189 million (the highest in 10 months);
- August 20: funds attracted another $221 million, extending the green streak to four consecutive days;
- BlackRock leads: the iShares Ethereum Trust (ETHA) alone saw about $173 million in a single day;
- Total new funds into ETH ETFs over four days exceeded $500 million.
Macro Backdrop and Key Levels Ahead
As MarketWatch notes, the crypto market got a boost from a weaker dollar index amid US Treasury plans to increase buybacks of long-term government bonds, as well as a softening in regulatory rhetoric from US agencies.
Despite the rapid recovery, Ethereum still trades at half its all-time high of around $4,950, set in 2025. If it manages to hold above $2,400, the key psychological target for buyers becomes the $2,500 level.
