Ethereum jumped roughly 20% in the past 24 hours, its eighth-biggest single-day move since January 2018, as a White House push for crypto legislation and a new SEC fundraising proposal sent the entire market higher. The token briefly topped $2,300 before settling near $2,280.
White House tailwind
The rally began after President Trump's Aug. 19 meeting with crypto industry leaders, where he urged Congress to advance the CLARITY Act. Bitcoin spiked toward $70,000 on the news. A day earlier, the SEC had floated a proposal that would exempt token offerings of up to $5 million over four years or $75 million over 12 months, along with a conditional safe harbor for certain tokens. Ethereum rode the wave harder than Bitcoin did.
What the history says
Analyst Jamie Coutts looked at 16 prior instances of Ethereum gaining 15% or more in a single day. Eight were higher a month later, ten were higher after 90 days, and twelve were higher after 180 days. Average returns: +20.6% at 90 days and +59.3% at 180 days. The record daily gain—May 2021's 24.5%—was followed by a 25.3% drop in the next month, but a 68% gain over six months. The pattern is clear: short-term follow-through is a coin flip, but the longer window has been kind.
Ethereum's edge over Bitcoin
ETH's 24-hour volume climbed to about $32 billion, up 439% from the previous day. Taker-buy volume hit $2.55 billion in a single hour on Aug. 19, the third-highest reading since Feb. 7, according to CryptoQuant contributor MorenoDV_. Ethereum also reclaimed its 200-day simple moving average before Bitcoin did. The next major resistance sits at $2,400.
The question now is whether Ethereum can hold above that moving average and push toward $2,400. The White House meeting gave the market a spark, but the SEC proposal is still just a proposal—the details will be hashed out in the comment period.
