Ethereum’s price had seen a significant increase, trading as high as $4,201.46 on Aug. 9, 2025. This now makes it a 7.84% increase in the last 24 hours. The increase comes against a fellow tide of increasing institutional adoption and a cooling NFT market.
More than 18 publicly listed companies currently have more than $500 million in ETH on their balance sheets. This highlights a deepening confidence in Ethereum as an asset class. The market today is more mature than in previous cycles.
Several factors contribute to this positive sentiment. Wash trading on the Ethereum network has taken a hit, down 61.64% to $5.5 million. This decline is a promising sign of less speculative activity and a return to a more organic, market-based dynamic.
The price action is encouraging. Despite the seemingly positive news, data indicates that buyers and sellers on the Ethereum network have actually dropped off significantly. This lack of alignment between price and participation calls for further investigation into market trends.
The NFT market presents a mixed picture. CryptoPunks 1021 sold for 720 ETH ($2,569,908). This $25M sale is a new high for the Anne & Michael Spach Collection. The wider CryptoPunks collection saw a steep 43.68% drop in sales, down to $11.4 million. Transaction volume, buyer activity, seller activity—all of them down tremendously.
The state of NFTs as a whole can be seen as quite a marked reversal. The 7-day change in unique NFT buyers is down -89.83%. This steep decline represents the most dramatic turn in expectations among collectors in the NFT market.
Adding to the intrigue, Arthur Hayes, a well-known figure in the cryptocurrency world, has re-entered the market by purchasing Ethereum. Just last month, Hayes had predicted the Ethereum price could fall as low as $3,000. His $25M renewed investment, however, indicates a major about face on his earlier market outlook.
This dissonance between Ethereum’s rapid growth and the NFT market’s contraction creates a compelling juxtaposition. The rise in Ethereum's value may be attributed to institutional accumulation and a broader recognition of its utility beyond NFTs.
