Ethereum's price reached a new record, driven by a dovish speech from Federal Reserve Chairman Jerome Powell and increasing market adoption, signaling its shift toward mainstream financial infrastructure.
On August 23, Ethereum hit a new all-time high of $4,887, driven by favorable market sentiment following Federal Reserve Chairman Jerome Powell’s dovish speech. The price surge is accompanied by low gas fees and a significant ETH/BTC ratio, marking a shift in market sentiment towards Ethereum. This event solidifies Ethereum's growing role in global finance as it gains traction among institutional investors.