Ethereum (ETH) reached a new all-time high price of $4,885 on Coinbase last Friday following Federal Reserve Chair Jerome Powell’s speech hinting at potential interest rate cuts. This news brought relief to traders, leading to a surge in the value of the token by almost 15% within the past 24 hours. The broader financial markets also experienced a rally during this period.
While Bitcoin saw a modest increase of around 4%, Ethereum’s rally outshone other tokens. The CoinDesk 20 Index, which monitors the overall crypto market, recorded a 9% rise during the same timeframe.
Powell’s remarks on Friday indicated a likelihood of interest rate cuts in September, aligning with traders’ expectations. This news sparked a significant reaction in global markets during Friday’s trading hours.
Ethereum’s price surge this year can be attributed not only to macroeconomic factors but also to the growing institutional interest in the network. Several companies, including ETHZilla backed by billionaire investor Peter Thiel, have begun accumulating ether as part of their treasury strategy. There is a belief that Ethereum will emerge as Wall Street’s preferred blockchain for development, driving demand for its native token.
As a result, Ethereum has outperformed Bitcoin in 2025, with a 45% increase since the beginning of the year compared to Bitcoin’s 25% rise. Other tokens associated with Ethereum, such as Lido (LDO) and Ethena (ENA), have also benefited from ETH’s rapid price escalation.
In conclusion, Ethereum’s recent price milestone on Coinbase reflects not only market dynamics but also the growing institutional interest in blockchain technology. As the crypto market continues to evolve, Ethereum remains a key player with potential for further growth and adoption.