Ethereum Surges Nearly 20% to Over $2,200

Following a sharp movement in Bitcoin, Ethereum demonstrated a considerably stronger rally, climbing nearly 19%. This surge resulted in its market dominance increasing to 11%, while Bitcoin's share declined to 56.9%. The rally was supported by active investment inflows through ETFs and the closing of short positions. A key factor was the strengthening of institutional demand, evidenced by approximately $189 million flowing into Ethereum ETFs on August 19. This momentum indicates growing investor confidence and interest in Ethereum amid broader market activity.