Ethereum Surges Past 2021 Record After 15% Rally

Ethereum (ETH) has set a new all-time high, breaking past its November 2021 peak after a sharp 15% rally fueled by shifting U.S. monetary policy signals.

ETH climbed more than 15% in 24 hours, reaching around $4,888, surpassing its previous record of $4,869.47. The move marked a milestone for the world’s second-largest cryptocurrency and came amid renewed optimism across digital asset markets.

The rally was sparked by Federal Reserve Chair Jerome Powell’s dovish comments at the Jackson Hole symposium, where he suggested that changing economic risks could justify an adjustment in monetary policy. His remarks boosted expectations of a September rate cut, with Polymarket data showing odds of a 25-basis-point cut rising from 57% to 79%.

Crypto markets responded swiftly, pushing the total market capitalization back above $4 trillion. Bitcoin rose over 4% to $117,000, while BNB hit a record high near $900. Other altcoins, including XRP, Solana, and Dogecoin, also posted double-digit gains, reflecting broad investor enthusiasm.

Ethereum’s breakout underscores how sensitive digital assets remain to macroeconomic shifts, with traders now closely watching the Fed’s next steps as the market pushes into uncharted territory.