Ethereum Reaches New All-Time High of $4,957 Amidst Market Surge

Ethereum soared past its previous records on Sunday, hitting a new all-time high of $4,957 before settling around $4,937. The cryptocurrency experienced a 2.93% surge in 24 hours, according to Binance data, marking a significant market movement. Roughly $57 million worth of positions vanished within an hour, with over $53 million of that being short trades, which were completely liquidated.