Ethereum Breaks New Ground, Could Surge Towards $5,000

Ethereum has experienced a significant price surge, surpassing the $4,782 mark and breaking away from weeks of sideways trading. The momentum reflects a nearly 29% growth over the past month, with daily trading volume hitting over $51 billion. This rally was ignited by comments from Federal Reserve Chair Jerome Powell who indicated that U.S. monetary policy is already in restrictive territory, fueling expectations of a September rate cut.