🚀 $ETH +14 % reaches new highs of $4,880: institutional backing, record ETFs, and dovish pivot from the Fed
Brief, concise, and viral content:
Ethereum broke its previous all-time high from November 2021, surpassing $4,880, with a surge of 14 % in just hours, following Jerome Powell's dovish speech at Jackson Hole that reignited expectations of a rate cut.
The wave of optimism solidified with strong institutional support:
ETH ETFs captured $287.6 million in a single day, raising the assets managed by these products above $12.1 billion, representing more than 5 % of the circulating supply.
Companies like BitMine, SharpLink, BTCS, and GameSquare have acquired ETH for a total of approximately $29.75 billion, further reducing the available supply and strengthening the asset's backing.
Are you joining the historic rally or would you prefer to wait and see where consolidation stops?
