ChainCatcher news, according to CoinDesk, the price of Ethereum broke through $4900 on Sunday evening, reaching a new all-time high of $4946.

Cryptocurrency trader Crypto Rover predicted: "The amount of ETH held by exchanges has been decreasing recently. A decrease in exchange holdings may lead to a reduction in supply, thereby driving up prices." Another analyst, Miles Deutsher, added: "BTC has been weak, but ETH has not. While BTC's upward trend has stalled near the highs, ETH is forming strong buying momentum, showing relatively clear upward momentum."

Some analysts warn that weekend breakthroughs often experience pullbacks, and a short-term pullback is expected early this week.