
Jakarta, Pintu News â Ethereum has outperformed Bitcoin in the past 90 days, driven by a surge in institutional investor interest. After months of lagging behind, the second-largest crypto asset is starting to turn things around, capitalizing on a new narrative as âdigital oilâ that is gaining popularity among market participants.
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Based on the last 90 days of data, Ethereumâs price surged 64.38%, from Rp29.45 million ($1,808) to Rp60.09 million ($3,684). In contrast, Bitcoin only rose 10.72% over the same period, from Rp1.54 billion ($94,748) to Rp1.88 billion ($115,375).
Shawn Young, Chief Analyst at MEXC Research, said this surge was triggered by an influx of large institutional purchases of both Ethereum and a number of other altcoins. According to him, total ETH holdings by publicly traded companies jumped almost tenfold since the end of 2024. He also emphasized that the âBitcoin-onlyâ era for corporate reserves is now over.
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One of the most notable moves came from BitMine, which as of August 4, 2025 was listed as holding IDR 47.29 trillion ($2.9 billion) worth of ETH, making it the largest Ethereum holder among companies. Interestingly, this accumulation was done in just five weeks, indicating a very aggressive acquisition strategy.
This trend reflects a change in crypto portfolio strategy among large institutions. Whereas previously they tended to focus solely on Bitcoin, diversifying into Ethereum is now a logical choice given its role as the second-largest crypto asset and a key driver of the DeFi ecosystem.
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Ethereumâs resurgence comes after a period of relatively slow performance in 2024, during which ETH rose just 53% while BTC surged 113%. Back then, a decline in on-chain transaction volume â largely due to the migration of activity to the layer-2 network â triggered token inflation that depressed the price of ETH.
However, since June 2025, the sentiment has started to change. Ethereum is increasingly referred to as âdigital oilâ due to its crucial role in powering the worldâs largest DeFi ecosystem. This narrative has reignited the interest of institutional investors who see ETH not only as an investment asset, but also as the primary fuel for modern blockchain infrastructure.
Ethereumâs stellar performance in the past 90 days suggests that Bitcoinâs dominance in the crypto market could be challenged as institutional support flows into other assets. With increasing corporate ownership, a strengthening âdigital oilâ narrative, and Ethereumâs position at the center of the DeFi ecosystem, ETH has the potential to maintain its positive momentum in the months ahead.
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*Disclaimer
This content aims to enrich readersâ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an assetâs past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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