ETH reached a record high of $4887.5 this morning

According to OKX data on August 23rd, ETH broke through $4,800 this morning, reaching a new all-time high of $4,887.5. It is currently trading at $4,830.8 per coin, a 14.32% increase on the day.

The cryptocurrency market reached a milestone! Ethereum (ETH) surged strongly this morning, reaching a high of $4,887.5, surpassing its previous high set several months ago and establishing a new all-time high.

This breakthrough is not an isolated event; it is backed by strong fundamentals:

On the one hand, Bitcoin's climb to a new high has fueled optimism and capital inflows across the market;

On the other hand, the Ethereum network itself has immense potential for growth. The booming DeFi (decentralized finance), the ongoing popularity of the NFT (non-fungible token) market, and the upcoming "Merge" upgrade have all significantly bolstered market confidence in ETH's long-term performance.

Analysts believe that this new all-time high represents not only a price victory but also a recognition of the market's dual attributes of "super utility" and "deflationary asset." Currently, all eyes are on the key psychological level of $5,000.