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Ethereum Tops $4,000 Amid Broad Altcoin Rally

souhaib by souhaib
August 8, 2025
in Trending
Reading Time: 2 mins read
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Ethereum Tops ,000 Amid Broad Altcoin Rally



Ethereum surpassed the $4,000 mark early Friday, approaching its yearly high amidst a broader rally in alternative cryptocurrencies. The market surge was initially ignited by positive developments from Ripple and Chainlink.

The rally gained momentum following Ripple’s announcement on Thursday that it will acquire Rail, a stablecoin-based global payments platform, in a deal valued at $200 million. The acquisition, expected to close in the fourth quarter, is intended to expand Ripple’s own stablecoin payment services. According to the company, the deal will enable “comprehensive stablecoin pay-ins and pay-outs across key corridors” without requiring customers to hold crypto on their balance sheets. In response to the news, Ripple’s XRP token climbed by as much as 8%.

Similarly, Chainlink announced the launch of its Chainlink Reserve on Thursday. The company stated that the reserve will accumulate its native LINK tokens by converting revenue from institutional and on-chain usage fees, a move that sent the price of LINK up by as much as 11%. The positive sentiment also lifted other major altcoins, with Solana gaining over 2% before the equity market opened.

This market activity coincided with significant regulatory news from Washington. On Thursday, President Trump signed an executive order aimed at promoting the use of alternative investments, such as private equity and cryptocurrency, in 401(k) retirement accounts. “My Administration will relieve the regulatory burdens and litigation risk that impede American workers’ retirement accounts from achieving the competitive returns and asset diversification necessary to secure a dignified, comfortable retirement,” the order stated.

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The broader cryptocurrency market responded favorably, with Bitcoin rallying throughout Thursday to trade near $116,500 by Friday morning.

These events represent the latest in a series of moves indicating a more favorable stance toward cryptocurrency in Washington. In July, Congress held a “Crypto Week” that advanced several key pieces of legislation. The GENIUS Act, which establishes a regulatory framework for stablecoins, was signed into law on July 18. Meanwhile, the Clarity Act, which aims to define regulatory oversight for cryptocurrencies, and the Anti-CBDC Surveillance State Act, which seeks to prevent the Federal Reserve from issuing a central bank digital currency, have both passed in the House of Representatives and are now awaiting votes in the Senate.



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