Ethereum (ETHUSD) remains one of the hottest cryptos in the market. As the world's second-largest cryptocurrency with a market capitalization north of $520 billion, this is an absolutely massive ecosystem upon which a significant chunk of on-chain activity takes place.
As such, it should be no surprise during risk-on periods that we see Ethereum take flight. The mega-cap crypto token recently made a new all-time high after hitting a fresh record near $5,000 but has since pulled back this week below the $4,500 level, giving up about 10% of these gains.
