Ether, the second-largest cryptocurrency, climbed to within roughly 5% of its all-time high of $4,878 set on Nov. 10, 2021, according to CoinGecko pricing. Late on Aug. 13 in New York, the token was trading about $228 shy of that peak after a day in which the gap narrowed from around 10% to as little as 5%. The approach to a new high marks the closest Ether has come to eclipsing its 2021 record in nearly four years and underscores a rebound in demand for digital assets. Traders are now watching whether the current momentum will be enough to push the cryptocurrency to a fresh high in the days ahead.