Ethereum's native token, Ether, surged to a record high of $4,867 on Coinbase, marking a 250% recovery since its April low of $1,385. The rally came after Fed Chair Jerome Powell hinted at potential interest rate cuts, fostering a favorable environment for risk assets like Ether. The dovish outlook from Powell reflected stability in the labor market, allowing for cautious policy adjustments. Additionally, renewed inflows into Ether ETFs, which attracted $287.6 million on August 21, have bolstered Ethereum's market presence, with total Ether ETF assets exceeding $12.12 billion. Corporate treasuries have also significantly contributed to Ether's momentum, acquiring roughly $1.6 billion in ETH recently. Analysts predict ongoing demand for Ether to outstrip available supply, suggesting a positive outlook despite typical selling pressures at all-time highs. Meanwhile, Bitcoin's market dominance has dipped below 60% for the first time in months, indicating a shift in capital to altcoins like Ether, as evidenced by recent fund inflows favoring Ether over Bitcoin. This dynamic has led experts to forecast a potential altseason reflecting traders' pursuit of higher returns.

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