diff --git a/Cargo.lock b/Cargo.lock
index d70668e..b21abcc 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -5626,7 +5626,7 @@ checksum = "8e04e2fd2b8188ea827b32ef11de88377086d690286ab35747ef7f9bf3ccb590"
 
 [[package]]
 name = "ink-node"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "clap",
  "color-print",
@@ -5691,7 +5691,7 @@ dependencies = [
 
 [[package]]
 name = "ink-node-runtime"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "frame-benchmarking",
  "frame-executive",
@@ -5736,7 +5736,7 @@ dependencies = [
 
 [[package]]
 name = "ink-parachain-runtime"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "cumulus-pallet-aura-ext",
  "cumulus-pallet-dmp-queue",
diff --git a/Cargo.toml b/Cargo.toml
index d1151a8..bdb6891 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -1,7 +1,7 @@
 [workspace.package]
 authors = ["Use Ink <ink@use.ink>"]
 edition = "2021"
-version = "0.47.0"
+version = "0.48.0"
 license = "Unlicense"
 homepage = "https://use.ink"
 repository = "https://github.com/use-ink/ink-node"
diff --git a/node/Cargo.toml b/node/Cargo.toml
index 75b6dd5..2c39447 100644
--- a/node/Cargo.toml
+++ b/node/Cargo.toml
@@ -28,8 +28,8 @@ serde_json = { workspace = true }
 # Local
 ink-parachain-runtime = { path = "../parachain-runtime", features = [
   "parachain",
-], version = "0.47.0" }
-ink-node-runtime = { path = "../runtime", version = "0.47.0" }
+], version = "0.48.0" }
+ink-node-runtime = { path = "../runtime", version = "0.48.0" }
 
 # Substrate
 frame-benchmarking = { workspace = true }