The cryptocurrency market experienced a surge for Ethereum (ETH), as the coin briefly surpassed $4,800. This impressive milestone is being driven by strong institutional interest, with prominent players like BlackRock and JPMorgan influencing recent price fluctuations. Tom Lee’s firm acquired a significant sum of ETH, highlighting renewed Wall Street confidence in the cryptocurrency. Meanwhile, Pendle’s landmark achievement of exceeding $10 billion in total value locked (TVL) underscores growing investor engagement within the DeFi space. However, the volatility introduced by institutional trading activity has led to short-term price shifts, which have been swiftly countered by robust buying interest. While potential regulatory changes may affect Ethereum’s future trajectory, analysts remain optimistic about the coin’s long-term prospects based on its network dominance and ongoing technological advancements.