Ethereum (ETH) experienced a significant surge, with its price jumping 10% and reaching a near-record high of $4,715, approaching its all-time high of $4,867 from November 2021. Over the past six days, over $2.3 billion has flowed into spot Ethereum ETFs, indicating strong investor demand. Glassnode reported that ETH's performance is vital for the altcoin market and foresees further price discovery if it surpasses the $4,700 resistance level. Ethereum's daily transactions reached a high of 1.87 million on August 12, backed by high total value locked (TVL) in DeFi at $95 billion. Analysts suggest that if ETH breaks above $4,750 with sustained momentum, it could trigger a price discovery phase, potentially pushing ETH's value to between $7,000 and $13,000. This optimistic outlook points to a bullish sentiment in the market as Ether's price appears set for new heights, reflecting renewed investor interest and network activity.

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