Ethereum Soars past $4,200, Fueling Altcoin Rally and Layer 2 Gains

Ethereum’s price surged by 7% on August 9, 2025, marking its biggest single-day gain in months. This jump, powered by a technical breakout above $4,000 and significant short liquidations, has sent ripples across the altcoin market. Optimism (OP) and Polygon (MATIC), two prominent Layer 2 platforms, are experiencing explosive growth as investors capitalize on Ethereum’s bullish momentum. Meanwhile, MAGACOIN FINANCE is attracting attention for its potential to become the next big breakout token.