• Ethereum climbed 17.51% to settle at $2,253.35, while Coinbase data showed trading volume accelerating sharply as price swings intensified.
• Traders woke up to a familiar question: Why is crypto up today? Ethereum opened around $2,260 after gaining nearly 18% over the previous 24 hours.
• CoinGecko data showed ETH near $1,930 before a sudden surge sent it to $2,325. The move triggered more than $3 billion in liquidations, making it the eighth-largest liquidation event on record. It was still dwarfed by the $19 billion liquidation cascade in October 2025, which followed Trump’s threat of 100% tariffs on China.
• Ethereum’s 24-hour gain stood at 18.8%, according to CoinGecko. Trading volume jumped to $31.9 billion, up 415.05%, while its market capitalization reached $272.8 billion.
• The broader crypto market climbed 7.5% overnight, taking total market capitalization to $2.45 trillion and placing Ethereum among the strongest gainers in the latest market-wide rebound.

Why Is Crypto Up Today? Trump Doubles Down on US Crypto Leadership

• President Donald Trump held talks with executives from Coinbase Global Inc., Payward Inc. and Blockchain.com Group Holdings Inc. as his administration continues to support the digital asset sector.
• Crypto and prediction markets remain among the industries the Trump administration is seeking to expand through a more favorable regulatory framework.
• The meeting followed an SEC proposal that would provide registration exemptions for certain digital asset offerings. The agency is advancing its crypto agenda after major legislation failed to progress through Congress.
• The SEC said the exemptions could ease the fundraising process for startups and early-stage companies. Bitcoin also recorded its biggest daily advance since March 4, reaching $68,476, its highest level since June 1.
• Trump later said the US would remain the “undisputed leader” in Bitcoin and crypto, as well as in prediction markets and artificial intelligence.
• The president also said the US intends to acquire “sizable” amounts of Bitcoin and other cryptocurrencies. His remarks helped fuel a surge in buying, pushing ETH above $2,000 and Bitcoin toward $69,900.
• The comments provided a fresh catalyst for the market, helping explain the sharp rally that has lifted crypto prices over the past 24 hours.

Ethereum Price Outlook: ETH Pushes Above $2,000

• Ethereum ended Aug. 19 above $2,000 after opening close to that level. For much of the previous month, ETH remained below the threshold, with daily closes ranging between $1,844.98 and $1,954.71 from July 19 through Aug. 18.
• The latest breakout has brought the $3,000 level back into focus for traders, although the available data do not confirm a specific price target. They instead highlight Ethereum’s strong daily performance, rising volume and renewed momentum above $2,000.
• Coinbase recorded 27,568 Ethereum trades over the last 24 hours, including 16,951 purchases and 12,069 sales. Buyers accounted for 61% of the platform’s reported activity.
• Search interest for Ethereum reached 8,396 queries, making ETH the second-most searched digital asset on Coinbase.
• Ethereum represented 11.75% of the overall crypto market, according to Coinbase. Its circulating supply stood at 121 million ETH, with no maximum supply, while trading volume totaled $136.38 billion over seven days and $238.23 billion over 30 days.