Ethereum Breaks All-Time High, Analysts Predict $20K

In a remarkable turn of events, Ethereum, the second-largest cryptocurrency, has broken through its previous all-time high of $4,878, which it set back in November 2021. The token briefly traded above this level before dipping, but the rally has been nothing short of impressive.

Over the past four months, Ethereum has climbed by more than 300%, and some analysts believe this is just the beginning. BitMEX co-founder and renowned crypto investor Arthur Hayes has gone on record, stating that he expects Ethereum to reach as high as $20,000 this cycle.

The driving force behind Ethereum's meteoric rise is the influx of institutional money flowing in from various channels. Public companies are starting to hoard Ether, exchange-traded funds are raking in billions, and new rules in Washington have made it easier for firms to dabble in crypto. Additionally, the recent approval of the Genius Act, which allows traditional financial institutions to launch their own stablecoins, has been a significant boost for the Ethereum ecosystem.

As of August 2025, there were $277 billion in stablecoins in circulation, with more than $143 billion issued on Ethereum alone. The SEC's "Project Crypto" framework has also helped to remove some of the uncertainty hanging over blockchain projects, further fueling the Ethereum rally.

The latest push for an all-time high comes from Ethereum treasury companies, which collectively hold nearly 3% of Ethereum's total supply, worth about $19 billion. With the growing institutional interest and regulatory clarity, Ethereum's future looks brighter than ever.