Ethereum (ETH), the second largest cryptocurrency by market capitalization, reached $4,326 on Saturday, its highest level since December 2021, in a four-day rally driven by massive short liquidations.

Ethereum saw a breakout above $4,000 for the first time since December 2024 on Friday, setting the stage for a higher move.

The second largest cryptocurrency was trading at $4,190 at the time of publication, marking a weekly gain of 20%. From its low on April 9 of $1,383 to Saturday's high of $4,326, the price of ETH has risen nearly 213%, driven by an increase in investment flows into Ethereum exchange-traded funds and growing demand from companies accumulating ETH on their balance sheets.

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More than $6.7 billion has flowed into the nine Ether ETFs listed in the U.S. to date. At the same time, treasury-focused companies on Ethereum have accumulated over $12 billion in ETH.

The momentum of Ethereum also coincides with a broader rotation within digital assets, as institutional investors and developers look beyond Bitcoin amidst a growing adoption of stablecoins, tokenized real-world assets, and smart contract platforms, all of which operate on the Ethereum blockchain. #ETHRally