BitcoinSistemi 2025-08-12 17:39:09

Ethereum (ETH) Price Hits $4.500 – Why is ETH Rising? Here’s What You Need to Know

Ethereum (ETH) briefly tested the $5,000 level today, continuing its strong uptrend in recent days. At the time of writing, ETH is trading at $4,470.96, up 4.12% intraday, bringing its market capitalization to $539.92 billion. This level is just 8.05% away from its all-time high of $4,891.70 recorded in November 2021. Chart showing the rise in ETH price. According to market data, 24-hour trading volume increased by 7.59% to $161.06 billion, while open interest in futures increased by 5.38% to $61.34 billion. A total of $420.31 million in positions were liquidated in the crypto market over the past 24 hours. $156.35 million of this came from Ethereum and $55.76 million from Bitcoin. Related News: Trump May Announce a New Candidate for FED Chair: Here Are His Views on Cryptocurrency One of the key drivers behind the surge was Bitmine Immersion Technologies (BMNR)'s massive acquisition plan. The company announced today that it plans to sell up to $20 billion worth of shares to increase its holdings of Ethereum. Bitmine's current ETH holdings stand at 1.15 million ETH (approximately $4.96 billion), equivalent to approximately 1% of the total circulating ETH supply. Bitmine, chaired by renowned investor Tom Lee, aims to own 5% of the circulating ETH in the long term. This strategic goal sent the company's shares soaring more than 14% on Monday, with its share price up over 600% since the beginning of the year. *This is not investment advice. Continue Reading: Ethereum (ETH) Price Hits $4.500 – Why is ETH Rising? Here’s What You Need to Know

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