Ethereum (ETH) is knocking on the door of the $5000 milestone after a powerful surge saw its price climb to $4,830. The impressive rally, which gained momentum on Friday, has the cryptocurrency community buzzing with anticipation for a potential new all-time high over the weekend.
The latest data confirms a staggering 14.2% gain in the last 24 hours alone, but the most telling sign of the current frenzy is a massive 93% explosion in trading volume, which has surged to nearly $70 billion.
The latest data confirms a staggering 14.2% gain in the last 24 hours alone, but the most telling sign of the current frenzy is a massive 93% explosion in trading volume, which has surged to nearly $70 billion.
The upward momentum appears to be fueled by a confluence of positive market sentiment and growing institutional interest. A key catalyst was the dovish stance from U.S. Federal Reserve Chair Jerome Powell, which has bolstered investor confidence across the broader financial markets, including cryptocurrencies.