Ether Surges 18% as Crypto Rally Lifts Bitcoin, Solana and XRP

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Ether Surges 18% as Crypto Rally Lifts Bitcoin, Solana and XRP

Thu, 20 Aug 2026, 05:51 am UTC

Ether led a broad cryptocurrency market rally Thursday, surging 18% over 24 hours to above $2,250 during Asian trading. The sharp ETH price increase pushed its weekly gain to roughly 20%, making it the strongest performer among major cryptocurrencies.

Bitcoin also climbed significantly, trading above $69,100 after gaining nearly 8% in 24 hours and 9% over the past week. BTC briefly approached $69,900 overnight, marking a rebound of more than $5,700 from Wednesday’s low near $64,100.

Hyperliquid’s HYPE recorded the biggest individual gain, jumping more than 19% to nearly $70 and extending its weekly advance to 24%. Solana rose over 10% to around $84.50, while XRP gained 10% to $1.09. The XRP rally restored the psychologically important $1 level after the token slipped below it Tuesday for the first time since 2024. Dogecoin advanced almost 8% to just below $0.075.

BNB and Tron lagged the wider crypto market. BNB increased 3.5% to approximately $626, while Tron remained nearly unchanged around $0.33 and was the only major cryptocurrency trading lower for the week.

The crypto rally began Wednesday after U.S. Treasury Secretary Scott Bessent significantly expanded the Treasury Department’s bond buyback operations. Traders interpreted the move as supportive of liquidity in the massive U.S. Treasury market, boosting demand for risk assets.

Bitcoin gained about 6% during the U.S. session, triggering roughly $1.4 billion in short liquidations within four hours as bearish traders rushed to exit positions. Treasury bonds also rallied, with long-term yields declining and global bond markets following the move.

Crypto sentiment received another boost from Washington after President Donald Trump appeared with executives from Coinbase, Gemini, Ripple and Chainlink Labs at a White House event. Trump urged Congress to advance a “fair version” of the Digital Asset Market Clarity Act, a crypto market structure bill currently stalled in the Senate.

Ether’s ability to remain above $2,200 will now be closely watched. Given the speed of the rally and its connection to broader liquidity conditions rather than Ethereum-specific developments, traders may remain alert for short-term profit-taking.

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Source: tokenpost.com