Ethereum Soars Past $4,800 as Fed Policy Shifts

The cryptocurrency market experienced a significant surge in Ethereum (ETH) prices following remarks from Federal Reserve Chair Jerome Powell at the Jackson Hole meeting. His dovish policy statement fueled institutional investment flows and triggered intense trading activity, pushing ETH beyond $4,800 for the first time ever. 📈 This development was driven by several factors including increased market volume and liquidity and record-breaking liquidation activity as institutional investors adjusted their positions in anticipation of potential rate cuts by the Fed.