Ethereum Surges 7.46% on US Inflation Data and Tom Lee's Rally Prediction

Ethereum's price surged 7.46% to $2,619 by the end of the week, driven by bullish momentum and positive market reactions to the August U.S. Consumer Price Index data.

Fundstrat co-founder Tom Lee called this the start of a major "face-ripper rally," signaling potential further gains and pressure on traders betting against Ethereum.

Bitmine Immersion Technologies, chaired by Lee, has become the largest corporate Ethereum holder, accumulating about 5.9 million ETH, or 4.9% of the global supply, mostly staked for yield.