#ETHRally Ethereum rally has approached a four-year high, driven by increasing institutional purchases, particularly from treasury firms like Bitmine Immersion Technologies and Sharplink Gaming, as well as optimism from regulators regarding potential ETH ETFs.
The Bullish exchange is also making headlines: the size of the IPO and price range have been increased to 30 million shares at a price of $32-$33, allowing it to be valued at around $5 billion amid investor demand. On the macroeconomic front, the US dollar softened today after weak inflation data for July, which heightened market expectations for a likely rate cut by the Fed in September, in turn boosting cryptocurrency sentiment.
The strong growth of Ethereum - approximately 41% on the month and 59.3% over the last three months, including a 14% increase last week - has significantly outpaced Bitcoin's performance and spurred broader bullish sentiment. Meanwhile, a recent article in Barron's highlights growing confidence in the market, as Trump's directive advocating for the inclusion of cryptocurrencies in retirement plans has sparked an influx of $572 million, with $260 million going into Bitcoin, alongside optimism around the Bullish IPO.