US EditionEthereum (ETH) Surges to New All-Time High Amid Likely September Rate Cut
Ethereum's market cap exceeds $587 billion, surpassing Netflix and Mastercard, driven by institutional investments and regulatory clarity after Fed Chair Powell's rate cut signals.
- On Friday, Ethereum reached a new all-time high of $4,885 on Coinbase, topping multi-year peaks amid a broad market rally.
- Federal Reserve Chair Jerome Powell's dovish tone at Jackson Hole sparked a synchronized rally across crypto and equities, lifting markets into the weekend as he said, `Shifting balance of risks may warrant adjusting policy stance`.
- Institutional flows showed US spot Ethereum ETFs pulled in over $9 billion since June and corporate treasuries acquired nearly 3 million ETH as market cap topped $587 billion.
- So far this year, Ethereum has risen about 45%, outpacing Bitcoin's roughly 25% gain and positioning Ether to challenge Bitcoin's market dominance during altcoin season.
- Analysts expect ETH could trade between $4,500 and $5,200 with potential to surpass $5,000 or $6,000, but it must hold the $4,100 support amid scalability and regulatory challenges.
24 Articles
24 Articles
Ethereum (ETH) Surges to New All-Time High Amid Likely September Rate Cut
Ethereum (ETH) hit a record price of $4,885 on Coinbase on Friday after a speech by Federal Reserve Chair Jerome Powell suggesting interest rate cuts left traders relieved going into the weekend.The token rose nearly 15% over the past 24 hours as part of a broader rally in financial markets.Nevertheless, ether’s rally stood out among other tokens. Bitcoin was also up, but only by about 4%. The CoinDesk 20 Index, which tracks the broader crypto m…
Ethereum Price Breaks All-Time High — Analyst Sets $7,000 As Next Target - Coin Surges
The cryptocurrency market roared back to life on Friday, August 22, after a positive speech from US Federal Reserve Chairman Jerome Powell, with the Ethereum price leading the top 10 largest assets in terms of performance. According to data from CoinGecko, the price of ETH increased by more than 14% on the day. After its initial struggles during the week, the Ethereum price finished by reclaiming and surpassing its former all-time high of $4,87…
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