AsianFin -- Ethereum is attracting significant institutional interest, helping stabilize sentiment in the broader crypto market even as trading activity remains subdued in late summer.

Over the past 30 days, the second-largest cryptocurrency has gained more than 17%, while Bitcoin has fallen roughly 5.5%, according to CoinGecko data.

The rally comes on the heels of a record-breaking surge earlier this week, with Ethereum reaching an all-time high of $4,945 on Sunday.