ETH Breaks New 2025 High, LDO and ENA Lead Ecosystem Gains

Ethereum surged past $3,824, marking its highest price in 2025. Over the past week, ETH has gained 25.5% and is currently trading at $3,788, just 22.3% below its all-time high of $4,878.

The rally has extended across the Ethereum ecosystem, with strength seen in both daily and weekly performance. Over the past 24 hours, Ethereum-native tokens like Lido DAO (LDO) and Ethena (ENA) led the pack, gaining around 9.6% and 9%, respectively.

On a weekly basis, LDO and ENA recorded even more impressive gains of over 42%. Meanwhile, PEPE, Ethereum’s largest meme coin, posted a more modest weekly gain of 11.3%. As NFT activity picked up, Ethereum Name Service (ENS) also saw a solid performance, rising 25.2% over the past week.

ETH Eyes $3,900 as Short Liquidation Risk Surges Past $2B

This broad-based rally has also introduced significant risk for leveraged traders, especially on the short side. According to Coinglass' latest liquidation map, a push to $3,900 could ignite over $2 billion in short liquidations. The danger zone is tightly packed between $3,860 and $3,900, Longs, meanwhile, are at risk if ETH dips below $3,700, with key liquidation zones centered around $3,650 to $3,715. This highlights the fragility of leveraged longs who entered during the recent rally.

While the market is clearly skewed toward long positions, evident from the steeper long liquidation curve, shorts are more exposed in the near term. A quick surge could trigger a sharp liquidation cascade, adding momentum to the upside.

That risk has already started to materialize. In the past 24 hours, Ethereum (ETH) recorded the highest liquidation volume among all crypto assets, with a total of $133.56 million liquidated. The liquidations were entirely from short positions, following an upward movement in ETH’s price. By comparison, Bitcoin (BTC) saw $48.42 million in short liquidations over the same period. According to data from Coinglass, a total of 126,511 traders were liquidated across the market during the same period, with total liquidation volume reaching $378.84 million.

The largest individual liquidation event occurred on Binance’s ETHUSDC pair, where a single trader was liquidated for $5.06 million, marking the biggest single-order loss within the 24-hour timeframe.

Ethereum Sees Largest Weekly ETF Inflows; Strategic ETH Reserves Reach $6.44 Billion

Institutional interest in Ethereum continues to strengthen. According to data from SoSoValue, U.S. spot Ethereum ETFs recorded over $2.1 billion in inflows last week, the largest weekly inflow since the products launched.

Strategic Ethereum reserves have risen to $6.44 billion, with 56 entities now holding significant ETH allocations, according to the latest data from Strategy ETH Reserve. The growing number of institutional holders signals increasing confidence in Ethereum’s long-term potential, particularly as ecosystem momentum and ETF inflows accelerate.

The company with the largest reserve is Bitmine Immersion Technologies (NASDAQ: BMNR), holding 300,700 ETH. It is followed by Sharplink Gaming (NASDAQ: SBET) with 280,600 ETH. Bit Digital (NASDAQ: BTBT) ranks sixth with 120,300 ETH, while BTCS Inc. (NASDAQ: BTCS) holds 32,900 ETH, placing it 11th on the list.

Looking Ahead

As Ethereum gains traction among both retail and institutional investors, all eyes are on whether ETH can break above the $4,100 level. With strong ETF inflows and ecosystem growth, momentum is building, though volatility remains a key factor.