Ethereum (ETH) has surged past its all-time high of $4,953, shattering previous resistance. Trading volume has exploded by over 83%, fueling market excitement. While the overall crypto market experienced a dip of 0.92% in the last 24 hours, dropping to $3.95 trillion, Ethereum’s price break out signals potential for further gains. Market analysts attribute the surge to rising DeFi activity and increasing institutional interest, but will ETH bulls be able to maintain momentum and push past the coveted $5K mark? The asset opened the day trading around $4,700 before surging and subsequently sliding towards a low of $4,673. Trading volume on the platform has reached an all-time high of over $54.9 billion, while the market cap is now at $568 billion. Despite the recent dip, the asset remains within a trading range and could continue to rise if bulls gain further momentum.