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Ethereum is closing in on its all-time high, stirring a mix of excitement and nervous anticipation among enthusiasts and investors alike. The token was just 3% from reaching the threshold after spiking to highs of $4,747 on Wednesday.
What’s the Scoop?
- ETH Nears ATH: Ethereum reached $4,891 on November 16, 2021, according to CoinMarketCap.
- Recent Pump: The token has had a break-neck run to get here, pumping 242% off its 2025 lows. The asset is up 28% on the week and 57% on the month.
- High Stakes Nervousness: While optimism is high, many holders remain cautious — an ATH can trigger profit-taking or market volatility.
- Macro Tailwinds: Growing DAT demand, surging spot ETF inflows, increasing DeFi activity, and staking returns are adding fuel to Ethereum’s price push.
- On-Chain Confirmation: Rising active wallet counts, transaction volume, and DeFi usage suggest the rally may be grounded in real utility, not just speculation.
Bankless Take:
Critics have proclaimed Ethereum "dead" countless times throughout history. Just months ago, ETH became the object of industry-wide scorn as it trailed the market and plunged to lows of $1,400. It appears the doubters are being proven wrong once again as ETH screams towards new ATHs...
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