Ethereum Hits $4,935 in New Rally

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Ethereum Hits $4,935 in New Rally.

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

Ethereum (ETH) climbed to an intraday high of $4,935, extending its rally as traders flocked to the second-largest crypto asset by market cap. The advance comes on the heels of comments from Federal Reserve Chairman Jerome Powell at Jackson Hole this week, which signaled that a September rate cut could be possible, spurring risk appetite in markets.
 

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Ethereum’s rise also comes as exchange-traded funds (ETFs) saw inflows of hundreds of millions last week, pushing total ETH ETF assets past $30 billion. Institutional players, including Bitmine’s weekend stock, reported increased allocations, indicating growing confidence in ether as an investment and treasury reserve. Analysts at Standard Chartered raised their year-end forecast for ether to $7,500, suggesting today’s rally could mark the start of a broader bull run. At 2:08 p.m. ET on Sunday, ETH was trading at $4,923 per unit.