Ethereum Reaches New All-Time High as Institutional Interest Drives Price Surge

Driven by expectations of a September interest rate cut from the Federal Reserve, Ethereum’s price surged to a new all-time high today, crossing the $4,800 mark. This bullish move is fueled by institutional investment into ETH, which has been reflected in surging derivatives open interest and liquidations exceeding $375 million. 32 million ETH has been staked on platforms like Lido and Rocket Pool, reducing circulating supply and contributing to the price increase.