Global markets showed an increase in risk appetite on Friday, with cryptocurrencies rising. Total crypto market capitalization increased by 3% due to Altcoins’ significant profits.
Around the time of press, Ethereum (ETH) scored nearly 4% in the last 24 hours to reach $4,002, touching on the psychological level that was viewed for the first time since December. Ethereum prices have risen 163% since April. This found $1,383 in support due to increased staking and Treasury holdings by businesses.
Ethereum received a more positive and fundamental boost as the corporate finance division of the Securities and Exchange Commission showed that certain liquid staking activities and “staking receipt tokens” would not constitute securities under the Securities Act of 1933 if they met a strict set of assumptions.
The Ethereum Network Transaction has since risen to an all-time high as the highest Ethereum, covered by the recent regulatory optimism surrounding pile staking, has risen. The seven-day average of daily transactions on the Ethereum blockchain reached 1.74 million earlier this week, surpassing the previous record of 1.65 million on May 12, 2021.
Ethereum melts your face
As Ethereum puts its next big driving force in the market, GlassNode co-founders, using X’s “negotropic,” issued a breathtaking prediction for the second-largest cryptocurrency.
According to Negentropic, Ethereum’s next move is ongoing, melting the face.
$ETH is a small breather, but the next move is the load, melting your face.
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-𝗡𝗲𝗴𝗲𝗻𝘁𝗿𝗼𝗽𝗶𝗰 (@negentropic_) August 8, 2025
With Ethereum trading again over $4,000, the eyes have become cryptocurrency to see if it will regain the highest ever reached $4,891 in November 2021.
Ethereum’s path to an all-time high is at the $4,500 level, consistent with the active realised price range and marks a critical rise threshold for the current rally. This level served as a resistance during the March 2024 and the 2020-2021 cycle. A critical break of over $4,000 and $4,500 will be watched to see if Ethereum will maintain its bullish momentum.