- Ethereum reached a record high of $4,885 on Coinbase following remarks by Federal Reserve Chair Jerome Powell.
- The price of ether rose nearly 15% over a 24-hour period, outpacing both Bitcoin and the broader crypto market.
- Chair Powell’s speech suggested possible interest rate cuts in September, influencing global markets.
- Institutional interest in Ethereum increased, with some companies adding it to their treasuries.
- Other ether-linked tokens, including Lido (LDO) and Ethena (ENA), also benefited from Ethereum’s price rally.
On Friday, Ethereum reached a new record price of $4,885 on Coinbase. The climb followed a speech from Federal Reserve Chair Jerome Powell, who signaled possible interest rate cuts later this year. The announcement led to noticeable market movement heading into the weekend.
Over the last 24 hours, ether jumped almost 15%, marking a stronger rally than the broader crypto sector. Bitcoin saw an increase of about 4% during the same period, while the CoinDesk 20 Index, which tracks major crypto assets, rose 9%.
Powell indicated that the Federal Reserve could decrease interest rates in September, meeting earlier expectations from traders. This news reversed a recent decline in market optimism, causing a significant impact on both crypto and traditional financial markets that day.
Ether’s rally has also been fueled by growing institutional investment. Companies such as ETHZilla, reportedly supported by investor Peter Thiel, have begun accumulating ether as part of their corporate reserves.
Some analysts believe that Ethereum could become a preferred blockchain for major financial institutions. This speculation increased demand for ether, resulting in its 45% year-to-date gain, compared to Bitcoin’s 25% rise. Additional tokens related to Ethereum, such as Lido (LDO) and Ethena (ENA), also saw value increases connected to ether’s upward momentum.
As a result, ether’s strong performance has set it apart from other digital assets, with institutional adoption and macroeconomic signals playing central roles in the latest surge.
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