Ethereum Surges Above $4,800, Nears Record High

Ethereum rallied past $4,800 on Friday, reaching its highest price since late 2021 and coming within 1% of the cryptocurrency’s record peak of $4,878.26.

The second-largest digital asset by market value jumped from roughly $4,400 to $4,800 in less than three hours, a surge of about 9%. Market-data provider CoinGecko reported a 6.6% increase in the most recent hour alone as buying accelerated into the afternoon session.

Bitcoin rose in tandem, touching $115,739.7, and a broad range of digital tokens advanced. Traders pointed to heavy inflows into cryptocurrency exchange-traded funds and a rebound in risk appetite as likely catalysts for the move.

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