Coinbase Records Ethereum’s Breakthrough Above $4,000 as Institutional Interest Grows

Ethereum has surged past the $4,000 mark on major exchanges, including Coinbase, reaching its highest price since December 2022. The cryptocurrency rallied 4% in 24 hours, outpacing Bitcoin's modest gains but lagging behind XRP's 7.6% surge. This milestone, recorded at 9 a.m. EST on Friday, highlights a broader market rally driven by increasing institutional accumulation, such as investments from Peter Thiel-backed BitMine. The resurgence of Ethereum underscores growing confidence in altcoins, despite mixed performances across the sector.

Ethereum Surges Past $4,000 Amid Market Rally and Institutional Accumulation

Ethereum breached the $4,000 threshold on major exchanges Friday, marking its highest level since December 2022. The second-largest cryptocurrency rallied 4% in 24 hours, outperforming Bitcoin's marginal gains but trailing XRP's 7.6% surge. Coinbase recorded the milestone at 9 a.m. EST as altcoins showed mixed performance.

The resurgence comes amid soaring institutional interest, with Peter Thiel-backed BitMine Immersion and SharpLink Gaming collectively accumulating $4.8 billion in ETH treasuries. Blockchain activity has intensified alongside the price recovery, though ethereum remains 18% below its 2021 all-time high of $4,878.

Market observers note the 50% monthly gain reflects growing confidence in Ethereum's ecosystem ahead of anticipated protocol upgrades. The rally coincides with broader crypto market strength, though Ethereum's fundamentals appear increasingly distinct from Bitcoin's store-of-value narrative.

ATOM Surges 4% on Institutional Demand Before Late-Hour Pullback

ATOM rallied 4% to $4.55 amid heavy institutional buying tied to Coinbase's integration of dYdX on the Cosmos network, with volume spiking to 2.19 million units—well above average. The move reflected growing institutional appetite for interoperable blockchain infrastructure as capital rotated from Bitcoin into altcoins.

Gains unraveled abruptly in the final hour of trading, with ATOM whipsawing from $4.60 to $4.56 as sell orders triggered below $4.58 support. The reversal left the $4.58–$4.60 range as new resistance, with traders now watching $4.55 as critical support.

Coinbase Expands DEX Trading to Mobile App, Starting with Base and Solana Integration

Coinbase is bridging the gap between centralized and decentralized finance by introducing DEX trading directly within its mobile app. U.S. users—excluding New York residents—can now access tokens native to Base network, with solana support imminent. The move accelerates exposure to emerging assets while maintaining Coinbase's signature accessibility.

The exchange highlights Base's prolific token creation ecosystem, positioning this integration as both a trader-focused feature and a builder empowerment tool. Six strategic acquisitions in 2025 underscore Coinbase's aggressive expansion into broader crypto infrastructure services.