Ethereum surged past $4,000 on Coinbase with a 5% 24-hour gain, bolstered by multi-billion dollar foundation purchases, though it remains below its November 2021 all-time high.
Ethereum reached $4,070 on Coinbase, marking a 5% rise in 24 hours, 15.2% over the week, and about 50% over the last month. It has outperformed Bitcoin by approximately 90% since late April but remains 17% below its November 2021 all-time high of $4,867. The rally is attributed to significant multi-billion dollar purchases by several Ethereum foundations, with ETH Treasury reporting major holdings by Bitmain’s Tom Lee (833,000 ETH), Joe Rubin's Sharplink (522,000 ETH), and The ETHER MACHINE (345,000 ETH).