🚀 Ethereum Hits Record High as Powell Turns Dovish — $10K in Sight
Fed Chair Powell's dovish Jackson Hole comments helped Ethereum reach $4,800 for the first price in over four years.
ETF inflows of $9 billion and DAT acquisitions of 3 million ETH have sent ETH up over 100% since June.
After achieving an all-time high, ETH may confirm another bullish pennant.
Binance said that Ethereum (ETH) reached $4,868 for the first time since November 2021 on Friday.
The leading altcoin rose after Fed Chair Jerome Powell's dovish comments at the Jackson Hole Economic Symposium on Friday. "Shifting balance of risks may warrant adjusting policy stance," Powell said, hinting to a September Fed rate decrease.
Ethereum has gained over 100% since July and 200% since hitting $1,500 in early April.
Digital asset treasuries (DATs) and institutional investors have also contributed to the leading altcoin's rapid rise.
SoSoValue data shows that institutional US spot Ethereum ETFs have received almost $9 billion since June, roughly three times their entire total net inflows before the month.$ETH
