Ethereum Hits All-Time High Price After Nearly 4 Years

Ethereum reached a new highest price for all time on Friday and broke a record of almost four years after recent profits fed due to rising ETH treasuries, an increasingly favorable regulatory environment for the protocol and growing interest of traditional financial companies.

The second largest cryptocurrency per market capitalization has risen by 15% in the last 24 hours to $ 4,879, which exceeded his previous record of $ 4,878 in November 2021, according to data from Coingecko.

In the past two months, ETH has more than doubled in price to even surpass Bitcoin while investors invade the funds traded by the stock exchange. After he came close to a new record on August 14, the ETH price fell alongside the rest of the market and earlier this week it fell to less than $ 4,100.

But on Friday, the crypto prices in general rose after the comments from Federal Reserve chairman Jerome Powell, who seemed to suggest the potential for a reduction of interest rates. Ethereum jumped by almost 8% in an hour after the comments and then kept tapping.

“It’s finally ETH’s moment to shine: record ETH ETF inflows and the launch of large ETH digital asset treasuries, coupled with broader ecosystem success—Circle and Bullish IPOs, and Trump’s executive order allowing digital assets in 401(k)s,” Brian Huang, co-founder of on-chain automation platform Glider, wrote in an email to Decrypt. “Jerome Powell’s Dovish Speech today by pointing out a rate reduction was the final push eth needed.”

Huang added: “Sentiment in the trenches for ETH is also strong. Layer-2s continue to grow as the basis and ETH still forbids the most Defi-liquidity with a factor of 9x above the second, Solana. We are still in the early innings here for Eth, the world’s global layer’s layer.”

The recent Ethereum tree is partly fed by the growing ETF question. Last week, US Ethereum ETFs gathered for the first time since they got more than $ 1 billion in one day in one day in July 2024. And Ethereum funds are Bitcoin ETFs to be surpassed with profit, although they have been blown faster on Down Days.

The profits are in line with the rise of companies that have swallowed Ethereum as their primary mission. In recent weeks, Bitcoin Miner Bitmine Immersion has grown its interests to more than $ 7 billion, while Sharplink Gaming, who played from online marketing, has collected more than $ 3.5 billion in the currency.

Such companies follow in the footsteps of Bitcoin Treasury Company Strategy (formerly Micro Strategy), which started buying the largest cryptocurrency per market hood in 2020 to pump its shares. The relocation has inspired dozens of followers, which started to expand to other assets such as Ethereum, Solana and BNB.

“There are a lot of steel wind behind ETH at the moment,” said Strahinja Savic, head of data and analyzes at crypto-oriented financial services and consultancy firm, FrNNT Financial. “Record ETF ETF intake and aggressive purchasing of treasury companies offer tangible demand.”

“Moreover, Ethereum is central to various important themes that attract the attention of traditional financial institutions,” he continued. “These include tokenization of traditional assets and stablecoins. These are important economic themes, and Ethereum is on the rise as a strong candidate to organize this new influx of capital and interest.”

Ethereum also received a boost this month when the SEC clarified its guidelines for the deployment, because Ethereum users have long searched for the Securities Regulator.

The more restrictive policy of former President Joe Biden administration had resisted to allow this position, but under President Donald Trump the regulator said that the use of the liquid strengthening can pay rewards to customers without registering with the agency.

The passage of last month’s Genius Act also increased the prospects of Ethereum. The legislation offers an American regulatory framework for publishing Stablecoins. Developers of these projects use the Ethereum -Blockchain overwhelmingly for their projects. Most stablecoins are linked to the value of the US dollar.

“The new all times of Ethereum is a clear sign of investor question that goes beyond Bitcoin,” wrote Samir Kerbage, Chief Investment Officer at Crypto-Activamanager Hashdex, in a message to Decrypt. “Since Ethereum and other smart contract platforms offer the infrastructure for many of the most adult use from crypto, including stablecoins and tokenization, we expect a constant strong demand for this emerging asset class.”

The chance that Ethereum will climb past $ 5,000 this year has risen in the past day Countless markets. The prediction market now shows a probability of around 85% that in 2025 token will reach that threshold.

(Publication: Myriad is a prediction market and engagement platform developed by Dastan, parent company of an editorial independent decodes.)

In a memorandum last week, UK Bank Standard Chartered increased its Ethereum price objective to $ 25,000 by 2028, a major shift of March prognoses that predicted a structural decline for the world’s second largest crypto.

“We increase our price predictions, because the background for ETH has been dramatically improved in recent months,” wrote the worldwide head of the Digital Assets Research Bank, Geoff Kendrick.

Note of the editors: This story was updated after publication to record additional comments.