Ether's price increased by 10% after remarks from Federal Reserve Chair Jerome Powell at Jackson Hole, as the market reacted positively to the hint of a potential interest rate cut in September. Following these comments, Ether breached the $4,350 resistance level and tested higher prices, reaching around $4,650. Concurrently, Ether ETF holdings reached a record 6.42 million ETH due to significant inflows totaling $7.88 billion in July and August, marking a 58% growth in just six weeks. This increase tightens the supply of Ether available in the market as tokens move into custodial vehicles. Analysts noted that the rapid inflow into ETFs could lead to a persistent upward pressure on prices while compressing volatility. Additionally, the number of large Ether holders is also increasing, indicating strong institutional interest. The article emphasizes the bullish outlook for Ether amidst growing ETF demand and changing economic conditions.

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