Ethereum Soars Past $4,700 as M2 Money Supply Fuels Institutional Demand

Ethereum has surged past the $4,700 mark this week, fueled by expanding global liquidity and increasing institutional interest. This growth mirrors increases in the global M2 money supply, a broad measure of financial resources that includes cash and bank deposits, highlighting macroeconomic trends as drivers behind investor appetites for risk assets. Analysts point to expanding DeFi applications and growing corporate treasury investments as key factors driving this price surge.