Ethereum Surges Past $4,886 on Interest Rate Cut Hopes

Ethereum's price surged nearly 15% within 24 hours to break its previous all-time high from 2021, reaching around $4,886 on Coinbase. This rally was sparked by Federal Reserve Chair Jerome Powell's comments at the Jackson Hole symposium suggesting a potential interest rate cut in September, which boosted risk assets.

Unlike the 2021 peak driven by stimulus and low rates, this rally is supported by Ethereum's shift to proof-of-stake, reduced issuance, and growing institutional interest, including corporate treasury buys and ETH-based ETFs. The key factor to watch next is whether institutional inflows into ETH ETFs increase, which would indicate a more sustainable rally beyond retail enthusiasm.