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Ethereum (ETH) soared greater than 10% within the final 24 hours to succeed in a brand new all-time excessive (ATH) on Coinbase after Federal Reserve Chair Jerome Powell hinted at potential rate of interest cuts throughout a speech on the Jackson Gap summit.
The main altcoin’s value crossed above $4,867 on the US crypto alternate for the primary time since November 2021.
ETH simply hit a brand new all-time excessive. That is it. That is the tweet. pic.twitter.com/wmBW7mP5Fp
— Coinbase 🛡️ (@coinbase) August 22, 2025
Following the surge, the Ethereum value has pulled again barely to commerce at $4,737.54 as of 1:05 a.m. EST, based on knowledge from CoinMarketCap.
Regardless of reaching a file peak on Coinbase, each CoinMarketCap and CoinGecko present that ETH’s ATH nonetheless stands at $4,891.70.
Powell Hints At Potential Curiosity Charge Lower
Talking on the Jackson Gap summit yesterday, Powell mentioned a ”shifting stability of dangers might warrant adjusting our coverage stance,” sending markets on a tear.
He mentioned the labor market stays in fine condition and the financial system has proven “resilience.” Regardless of that, he added that draw back dangers are rising, and that President Donald Trump’s commerce tariffs might trigger inflation to rise once more.
Given the Fed’s benchmark rate of interest is a full share level beneath the place it was when Powell delivered his keynote speech a yr in the past, and the unemployment price continues to be low, Powell mentioned that circumstances enable “us to proceed fastidiously as we think about adjustments to our coverage stance.”
In keeping with the CME FedWatch instrument, analysts put the possibilities that the Fed will lower charges by 25 foundation factors at 75%.
Polymarket odds of what the Fed’s determination will likely be in September (Supply: Polymarket)
Bettors on Polymarket even have additionally grown more and more assured that there will likely be a price lower in September. Odds of a 25 bp lower soared 19% to 78% within the final 24 hours. Odds that there will likely be a 50+ bp price lower additionally climbed 1% to face at 3%.
Conversely, odds that rates of interest will stay unchanged dropped 19%.
Trump’s World Liberty Monetary, Whale Pile Into ETH
After Powell’s speech, the Trump household purchased extra ETH via their World Liberty Monetary (WLF) venture, based on on-chain analytics platform Lookonchain.
Trump’s World Liberty(@worldlibertyfi) spent 5.025M $USDC to purchase 1,076 $ETH at $4,670 simply now!https://t.co/0qWkRUhTQb pic.twitter.com/RwkWgnymBf
— Lookonchain (@lookonchain) August 22, 2025
Within the final 24 hours, WLF spent 5.025 million USDC to purchase 1,076 ETH when the altcoin was priced at $4,670, Lookonchain mentioned.
A Bitcoin whale that had been dormant for a number of years additionally continued to money out BTC and purchase into ETH. Lookonchain famous in an earlier put up on X that the investor deposited one other 300 BTC price $34.78 million on Hyperliquid, bought the BTC, and invested the quantity in ETH.
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