Ethereum soared by nearly 15% within a single day, achieving a peak price of $4,866 following comments from Jerome Powell indicating that interest rate reductions might occur in September. This rally in Ether has significantly outperformed Bitcoin and other prominent cryptocurrencies, driven by positive macro trends and increasing interest from institutional investors.

With a current year-to-date increase of 45%, Ethereum is gaining traction as the preferred blockchain for major players on Wall Street. Key points include:

• Ethereum’s market rally has continued as traders react favorably to Powell’s hints about interest rate cuts coming soon.
• Ethereum’s rise occurred despite Bitcoin’s more modest gains, which registered just about 4% during the same timeframe.
• Institutional interest in Ethereum is on the rise, with companies like ETHZilla, backed by billionaire Peter Thiel, beginning to incorporate Ether into their treasury strategies.

The market’s dynamic landscape indicates growing confidence in Ethereum’s potential as a leading blockchain technology amidst evolving financial conditions.