Ethereum climbed past $4,300 late Saturday, its highest level since January 2022, extending a months-long rebound that has more than tripled the token’s value from April’s low near $1,385. The latest surge lifted Ether’s market capitalisation enough to displace Mastercard and place the cryptocurrency 22nd among the world’s largest assets, according to asset-ranking data cited by market watchers. Predictive-market platform Kalshi said traders now see room for the price to reach about $5,500 before the end of 2025, while some analysts point to the last cycle’s ETH/BTC peak ratio of 0.088—equivalent to roughly $10,300 at today’s Bitcoin level—as a potential long-term marker.