Ethereum reached a new all-time high on Coinbase on August 22, surpassing its previous peak of approximately $4,878 recorded in November 2021. The cryptocurrency surged nearly 15% in 24 hours following Jerome Powell’s remarks at Jackson Hole, hinting at a potential interest rate cut in September. ETH touched an absolute peak between $4,946 and $4,953. This rally differs from 2021’s as it is supported by solid fundamentals, including the transition to proof-of-stake and growing institutional interest through Ethereum-based ETFs.
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