ETH/USD: Ether Hits Record Near $5,000 but Traders Chicken Out — Wild 7% Drop Appears
It’s finally here — after four years of zig-zagging, deep dives and high rises, the Ether token soared to a new record high. 🚀 Ether Pops, Then DropsEthereum prices soared to a record of $4,955 per token on Sunday, smashing the 2021 peak and locking in a new all-time high. All fine and dandy, before dropping 7% Monday, dragging prices back to $4,600. Heavy profit-taking fueled the reversal? Bitcoin isn’t helping sentiment either. The OG token is trading around $111,000, down more than 10% from its earlier this month. It’s on track for its third straight red day, weighing on broader risk appetite. The total crypto market cap has shed over $200 billion in just three days. Talk about the fragile balance between euphoric buying and aggressive profit-taking, especially after one of the sector’s sharpest rallies in years. 💸 Wall Street Meets Web3So what’s behind the powerful Ethereum rally? And why now? Unlike Bitcoin, which functions primarily as a store of value, Ether powers the Ethereum blockchain, home to decentralized apps, DeFi protocols, NFTs (still holding those bags?), and smart contracts. Seeing all that, VC heavyweight Peter Thiel has ventured his way into the Ether world. His Founders Fund disclosed a , a biotech-turned-crypto treasury firm that’s buying Ether with the sole purpose of staking it for big rewards. Companies are starting to stockpile Ether on balance sheets, similar to Bitcoin’s treasury asset wave earlier this year. That corporate adoption trend is reinforcing Ether’s role not just as a currency, but as digital infrastructure for finance. 🔥 Treasury FrenzyETHZilla went full pivot mode — from biotech to Ether hoarding machine — after announcing plans to buy up the coin aggressively. Its stock went from 80 cents to $10 in under three weeks, powered by Thiel’s backing and crypto hype. But that pump soon added the latter part of a bad phrase — then came the dump. By Friday, ETHZilla shares had erased nearly 70% of their gains, stoking talks of a pump-and-dump scheme rather than tangible interest to hold the coin. Or maybe, Thiel’s bet is bigger than ETHZilla? Maybe he’s trying to position Ethereum as the platform where Wall Street’s next generation of products — from tokenized securities to real-world asset lending — could be launched. If that narrative sticks, ether’s $5,000 breakout might just be the beginning.