Powell's Dovish Comments Spark Ethereum Surge to Four-Year High

Ethereum has broken through its four-year high at $4,950, fueled by Fed Chair Jerome Powell's dovish comments at Jackson Hole. The second-largest cryptocurrency surged over 15% following Powell's statements, continuing its momentum into the weekend.

Institutional demand is driving much of Ethereum's recent rally, with U.S. Ethereum ETFs collecting over $1 billion in single-day inflows for the first time since launching in July 2024. These funds have outperformed Bitcoin ETFs in recent weeks, reversing earlier trends.

The corporate treasury adoption of Ethereum has also added significant buying pressure. BitMine Immersion accumulated over $7 billion in Ethereum holdings, while SharpLink Gaming built a position worth more than $3.5 billion. This trend follows MicroStrategy's playbook of using crypto to boost stock performance.