Crypto
ETH Price Soars Past $2,600 Amid CPI-Fueled Market Rally
The ETH price surged past $2,600 on September 11 as new U.S. Consumer Price Index data matched economists' projections, triggering a market rally.
The rally saw ETH reach a session high of $2,663 before gradually retreating and eventually finding support above $2,500.
In the first wave, ETH breezed past $2,500 but lost momentum after reaching $2,510. However, in the second wave, the cryptocurrency added more than $150 (6.5%) in less than an hour to reach a multi-month peak.
Despite a market-wide downturn that saw its price drop to $2,533 by 3 p.m., ETH remained up nearly 3% over 24 hours, keeping its market capitalization just under $310 billion.