Ethereum reached a new all-time high price of $4,879, surpassing its previous record from November 2021. This surge follows a 15% increase in just 24 hours and is attributed to factors including a favorable regulatory environment, institutional adoption, and strong demand for Ethereum ETFs. On August 21, Federal Reserve Chair Jerome Powell's comments hinting at potential interest rate cuts triggered a surge in prices for both Ethereum and Bitcoin. Ethereum's growth has also been driven by significant inflows into spot ETFs, with over $1 billion received in a single day. Companies are increasingly accumulating Ethereum, mirroring trends seen with Bitcoin investments. Recent regulatory movements from the SEC have clarified rules around staking, further benefiting Ethereum. Predictions now suggest a heightened chance for Ethereum to surpass $5,000 this year, with Standard Chartered updating its price projection to $25,000 by 2028, reflecting stronger market conditions for the cryptocurrency.

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