Weekly crypto update: Ethereum breaks $4K, ETFs see $1.2B inflows, altcoins rally with $ZKJ, $BIO, $DOLO leading, $QUBIC and $XMR in red
Author: Chirag Sharma
The past week was one of the strongest in recent memory for Ethereum and the broader altcoin market. In this weekly crypto update our focus is on the big push for ETH. Ethereum surged past $4,000 for the first time in years, touching $4,240 with a weekly gain of 10.7%. This rally was fueled by a powerful mix of institutional inflows, corporate adoption, and regulatory clarity.
Ethereum ETFs saw $1.2 billion in inflows, with $73 million arriving on August 5 alone. Corporate activity picked up as SharpLink Gaming and BitMine Immersion jointly acquired nearly 2 million ETH. On the policy front, the SEC clarified that ETH staking does not breach securities laws, removing a major overhang for investors.
Technical momentum was equally strong, with ETH breaking the $4,193 Fibonacci resistance and the RSI soaring above 70. Elsewhere, Ripple’s XRP rose 8% on news of a $200 million stablecoin platform acquisition, while Chainlink’s LINK gained 11% after unveiling its token reserve.
A U.S. executive order promoting crypto in retirement accounts gave the market an extra lift. Despite ETF outflows of $196 million for Bitcoin, the top crypto held steady while altcoins led the charge.
This weekly crypto update showed just how quickly momentum can shift in the market. Ethereum’s breakout above $4,000, strong ETF inflows, and renewed altcoin strength have set a bullish tone. The performance of top gainers like $ZKJ, $BIO, and $DOLO highlights the appetite for projects with fresh catalysts, while the declines in $QUBIC and $FUN remind us that pullbacks are part of the cycle.
Looking ahead to this week, the focus will be on whether Ethereum can sustain its momentum, how altcoins respond to shifting liquidity, and if fresh narratives can emerge to keep sentiment high. With volatility likely to stay elevated, the coming days could bring more breakout opportunities for attentive traders.
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