Ethereum's price has seen a significant increase, rising 163% since April 2025 to reach $3,900.47 as of August 8, 2025. This surge is attributed to heightened staking activities and a growing trend of public companies integrating ETH into their corporate treasuries. The Ethereum network is currently experiencing unprecedented activity, with daily transactions reaching a record 1.74 million, surpassing the previous high of 1.65 million set in May 2021.
A key factor contributing to this growth is a statement from the U.S. Securities and Exchange Commission's (SEC) Division of Corporation Finance, which indicated that certain liquid staking activities and "staking receipt tokens" may not be classified as securities under specific conditions. This regulatory clarity has reduced uncertainty, encouraging greater institutional participation and confidence in Ethereum's staking ecosystem. Consequently, over 36 million ETH, representing nearly 30% of the total supply, is now locked in staking contracts, tightening market liquidity and supporting higher prices. The adoption of ETH as a corporate treasury asset is accelerating, with public companies now holding approximately $11.77 billion worth of the cryptocurrency. Prominent corporate holders include BitMine Immersion Technologies with 833,100 ETH valued at $3.2 billion, SharpLink Gaming holding $2 billion in ETH, and The Ether Machine with $1.34 billion. These companies are increasingly utilizing ETH for yield generation through staking and other decentralized finance (DeFi) protocols, offering investors indirect exposure to the cryptocurrency's growth.
Ethereum co-founder Vitalik Buterin has expressed support for this trend, noting that treasury vehicles offer investors more options, particularly those with different financial constraints. However, he also cautioned against the risks of excessive leverage, warning that it could lead to cascading liquidations and negatively impact the network's credibility, drawing parallels to past market instabilities. Analysts attribute the surge in network activity to a combination of factors, including a revival in meme coin trading, optimism surrounding potential Ethereum spot ETFs, and increased activity in the NFT and gaming sectors. This robust on-chain activity underscores Ethereum's expanding utility and its solidification as a foundational layer for a diverse range of digital applications and financial strategies, signaling a maturing ecosystem poised for continued innovation and growth.