Ethereum Reaches Record $4,885 Following Federal Reserve Remarks
Ethereum (ETH) Price Surge
- ETH reached a record price of $4,885 on Coinbase after Federal Reserve Chair Jerome Powell hinted at possible interest rate cuts.
- The token rose nearly 15% in 24 hours, outperforming Bitcoin, which increased by about 4%.
- The CoinDesk 20 Index rose 9% during the same period.
- Powell's comments on potential September interest rate cuts triggered reactions in global markets.
- Ether benefits from renewed institutional interest, with companies like ETHZilla accumulating it as part of their treasury strategies.
- ETH has outperformed Bitcoin this year, up approximately 45% since January 2025 compared to Bitcoin's 25% increase.
- Other ether-related tokens, including Lido (LDO) and Ethena (ENA), also saw gains due to ETH's rally.