#ETHBreaksATH Ethereum reached an intraday high of $4,935 on Sunday, driven by optimism over rate cuts, strong ETF inflows, and significant institutional interest.

Ethereum (ETH) climbed to an intraday high of $4,935, extending its rally as traders flocked to the second largest cryptocurrency by market value. The surge follows comments from Federal Reserve Chairman Jerome Powell in Jackson Hole this week, which indicated that a rate cut in September could be under consideration, increasing risk appetite in the markets.

Ethereum reaches $4,935 in a new rally

1-hour ETH/USD chart via Deribit.

Ethereum's rise also comes as exchange-traded funds (ETFs) recorded hundreds of millions in inflows last week, raising total ETH ETF assets above $30 billion. Institutional players, including Bitmine's weekend action, have reportedly increased allocations, pointing to growing confidence in ether both as an investment and a treasury reserve. Analysts at Standard Chartered raised their year-end forecast for ether to $7,500, suggesting that today's rally could mark the beginning of a broader bullish phase. At the time of press at 2:08 p.m. Eastern Time on Sunday, ETH was trading at $4,923 per unit.