Ethereum Treads Water at $2,405 Amid Rising Interest Rates

Ethereum's resilience in the face of rising interest rates and inflationary pressures has been put to the test, but so far, it has held strong at $2,405. Despite the Federal Reserve raising interest rates for the first time in three years, Ethereum barely budged and reclaimed the key level by the next session.

The 10-year Treasury yield reached 5% on September 15, its highest level of the period, while the VIX climbed to 17.20, more than 20% above its level a month earlier. Yet, Ethereum continued to find buyers around $2,405, leaving it trapped between a series of defined levels as it entered the Fed decision.

The upcoming Glamsterdam upgrade, designed to address the value-capture problem created by layer-2 networks like Base and Arbitrum, has been delayed due to devnet test failures. The timeline is now uncertain, with a realistic mainnet launch appearing more likely in early 2027 than under the earlier schedule.