Ethereum Hits Record High

🔷Ethereum reached a new all-time high of $4,887, marking a 250% surge from April lows. The sharp rally followed Federal Reserve Chair Jerome Powell’s statement about a likely interest rate cut in September, which boosted demand for risk assets. Investors are now anticipating an influx of cheap liquidity that could further accelerate altcoin growth.
🔷Another major driver was record inflows into Ethereum ETFs: in a single day, funds attracted $287.6 million, pushing assets under management above $12.12 billion. Institutional players are strengthening their positions, with corporate ETH reserves climbing to $29.75 billion. As Bitcoin’s dominance declines, capital is rapidly shifting into altcoins, fueling expectations of a new altseason.