Ethereum Soars Despite RIZE’s Sharp Drop: Wall Street Remains Cautious

Ethereum saw a record milestone Friday, exceeding $4,500 as bullish sentiment fuels the market despite early hype surrounding RIZE. While the token experienced a dramatic drop following its launch after unrestricted token allocations to private investors and liquidity providers triggered a sell-off, Layer-3 bets like XCN and derivatives-focused tokens like HYPE gained traction. 2023 has seen new projects vying for prominence in crypto as traders react to listing dynamics and protocol fundamentals.