Ethereum (ETH) has experienced a significant surge, breaking through the $4,700 mark today. This upward movement is attributed to increased institutional interest, with Ethereum ETFs attracting substantial inflows. Notably, BlackRock's ETHA and Fidelity's FETH have seen heightened activity, signaling renewed confidence in the cryptocurrency market .

Market analysts are closely monitoring ETH's performance, with some predicting a potential breakout towards the $5,000 resistance level. Factors contributing to this optimism include bullish on-chain metrics and a favorable macroeconomic environment .

However, Ethereum's market dominance has slightly declined, opening opportunities for other cryptocurrencies like Solana (SOL), which is approaching its all-time high .

As of the latest data, Ethereum's price stands at $4,624.13, with a daily range between $4,568.27 and $4,762.73 .