Crypto Stages Sharp Recovery as Ethereum Pumps 18%

• Ethereum surged 17.51% to close at $2,253.35, with Coinbase reporting a sharp rise in trading volume as market volatility picked up.
• The crypto market began the day with traders asking one question: Why is crypto up today? ETH opened near $2,260 after rallying almost 18% in the previous 24 hours.
• CoinGecko data showed ETH trading around $1,930 before a sudden breakout pushed it to $2,325. The move resulted in more than $3 billion in liquidations, ranking among the eight largest liquidation events on record. Still, it was well below the $19 billion liquidation wave recorded in October 2025 following Trump’s tariff threat against China.
• Ethereum posted an 18.8% 24-hour gain, while its trading volume soared to $31.9 billion, up 415.05%, according to CoinGecko. Its market capitalization stood at $272.8 billion.
• The wider crypto market also advanced 7.5% overnight, lifting its total market capitalization to $2.45 trillion and making Ethereum one of the standout performers in the latest rally.

Why Is Crypto Up Today? Trump Reiterates US Crypto Ambitions

• President Donald Trump met with executives from Coinbase Global Inc., Payward Inc. and Blockchain.com Group Holdings Inc. as his administration continues to promote the digital asset industry.
• The Trump administration has identified crypto and prediction markets as sectors it wants to encourage through a business-friendly regulatory framework.
• The discussions came after the SEC proposed exemptions for certain digital asset offerings from securities registration statements. The regulator is pushing ahead with its crypto agenda after major legislation stalled in Congress.
• The SEC said the exemptions would benefit startups and companies raising capital during the early stages of development. Bitcoin also posted its biggest gain since March 4, reaching $68,476, its highest level since June 1.
• Trump told reporters that the US would remain the “undisputed leader” in Bitcoin and crypto, while also seeking leadership in prediction markets and artificial intelligence.
• He also said the US plans to purchase “sizable” amounts of Bitcoin and other digital assets. The remarks triggered increased buying pressure, helping Ethereum reclaim $2,000 and sending Bitcoin toward $69,900.
• Trump’s comments appear to have provided the spark behind the latest market-wide rally, offering traders a potential explanation for crypto’s sharp gains over the past day.

Ethereum Price Outlook: ETH Reclaims $2,000

• Ethereum closed Aug. 19 above $2,000 after starting the day around that level. ETH had traded below $2,000 for most of the previous month, with daily closes ranging from $1,844.98 to $1,954.71 between July 19 and Aug. 18.
• The breakout has renewed interest in a potential move toward $3,000, although current data do not establish a firm price target. Instead, they show strong daily momentum, significantly higher volume and a sustained move above $2,000.
• Coinbase recorded 27,568 ETH trades during the past 24 hours, with 16,951 buys and 12,069 sells. Buyers accounted for 61% of trading activity.
• Ethereum generated 8,396 search queries and ranked as the second-most popular digital asset on Coinbase.
• Ethereum’s market dominance stood at 11.75%, while its circulating supply was 121 million ETH with no maximum supply. Coinbase reported $136.38 billion in seven-day trading volume and $238.23 billion in 30-day volume.