Ethereum (ETH) demonstrated significant growth, increasing over 10% in the last 24 hours to achieve a new all-time high.
Ethereum's All-Time High Update
ETH's price on the Coinbase exchange crossed above $4,867, establishing the highest price since November 2021. Following the peak, the price slightly declined to about $4,737.54 as of 1:05 a.m. EST.
Jerome Powell's Comments
During the Jackson Hole summit, Federal Reserve Chair Jerome Powell stated that a 'shifting balance of risks may warrant adjusting our policy stance.' He highlighted the strong labor market and the economy's resilience but noted rising risks associated with inflation due to trade tariffs. Powell indicated that conditions allow 'us to proceed carefully as we consider changes to our policy stance.'
Investments by Trump and Others into ETH
After Powell's speech, the Trump family purchased additional ETH through their World Liberty Financial project, spending $5.025 million USDC on 1,076 ETH at a price of $4,670. It was also reported that a dormant Bitcoin whale converted BTC into ETH investments.
The new all-time high of Ethereum reflects market dynamics and strategic moves by significant investors, highlighting the attention to potential shifts in economic policy.
