Powell’s Speech and Liquidity Tailwinds
ETH jumped about 14% on Friday as Federal Reserve Chair Jerome Powell said the “balance of risks has shifted” and policy may need to be adjusted. The remarks increased the market-implied probability of a September rate cut to roughly 90% from about 69% before the speech. A softer policy path signals looser liquidity, a backdrop that typically supports demand for risk assets like Ethereum.
ETF Inflows and Corporate Treasury Buying
U.S.-listed spot Ethereum ETFs have flipped back to net inflows. On August 21, they took in about $287.6 million after four straight days of outflows, and now collectively manage more than $12.1 billion in assets. Corporate treasuries are also accumulating ETH. Over the past month, firms including BitMine, SharpLink, Bit Digital, BTCS, and GameSquare acquired roughly $1.6 billion worth of Ether. Their combined ETH holdings have grown to nearly $30 billion, reinforcing the view of Ethereum as a utility-rich reserve asset rather than a purely speculative token. As of Friday, these holdings had ballooned to over $29.75 billion, according to data resource StrategicETHReserve.xyz.
On-Chain Activity Is Rising
Network usage has accelerated. Over the last 30 days, Ethereum transactions rose by about 60% and active addresses increased roughly 24%, according to third-party analytics. By comparison, Solana saw slight declines on both metrics over the same period.
Market Structure: From Bitcoin Dominance to Altseason
ETH’s breakout coincides with a notable drop in Bitcoin’s market dominance below 60% for the first time in four months, down from a yearly high near 66%. That shift suggests capital rotation into large-cap altcoins such as Ether.
Fund flows reflect the same tilt: in the week ending August 15, Ethereum-focused products attracted about $2.86 billion versus roughly $552 million for Bitcoin funds. Month to date, ETH products have added more than $2.96 billion in assets while BTC vehicles have seen outflows of about $21 million.
Outlook and Targets
Standard Chartered raised its year-end ETH target to $7,500 from $4,000 and projects $25,000 by 2028. Some analysts see a path to $13,000 in the coming months. BitMEX cofounder Arthur Hayes expects an explosive move to the $10,000–$20,000 range this cycle, citing technical strength on the chart.
Arthur Hayes just admitted he bought back ETH because “the chart says it’s going higher.”
— SamAlτcoin.eth 🇺🇸 (@SamAltcoin_eth) August 21, 2025
He sees Ethereum running up to $20K this cycle.
When asked $ETH vs $SOL?
He’s overweight $ETH 🚀 pic.twitter.com/Yd3q1t0aCe