Ethereum Soars on Potential Interest Rate Cut, Outpacing Bitcoin

Following comments from U.S. Federal Reserve Chairman Jerome Powell hinting at a possible interest rate cut in September, Ethereum (ETH) reached an all-time high of $4,885 on the Coinbase exchange. This surge marks Ethereum as the standout performer in the cryptocurrency market, with gains exceeding 15% over the past 24 hours. The potential for lower interest rates has driven positive sentiment across global markets, bolstering not just Ethereum but also Bitcoin.