Ethereum continues to see explosive growth, reaching new all-time highs and exceeding the $4,700 mark. This surge in price is fueled by a combination of factors – growing DeFi activity, increasing investment from institutional players, and positive macroeconomic signals from the Federal Reserve. 30-day network activity for Ethereum has surged by 63%, demonstrating a significant increase in trading volume. Futures open interest remains strong at $69B, reflecting continued bullish sentiment, with even more liquidations of bearish positions as ETH continues to rise. The rally comes amidst growing risk appetite from investors influenced by the Fed’s potential for rate cuts. Analysts believe that a break above $5,000 is now possible, driven by robust market activity and increasing institutional interest.