Ethereum Reclaims All-Time High as Institutional Demand Surges
Ethereum (ETH) has reclaimed its previous all-time high, hitting $4,880 on Bitstamp and surpassing its November 2021 peak. The rebound followed a correction near $4,000 and gained momentum after U.S. Federal Reserve Chairman Jerome Powell’s Jackson Hole remarks. ETH is now trading just below $4,900, up 10% in the past week and 35% over the past month. The rally is fueled by record inflows into spot ETH ETFs—over $1B led by BlackRock’s ETHA fund—and corporate treasury accumulation, with Bitmine becoming the first public company to hold 1M ETH. Analysts suggest stronger fundamentals than in 2021, with $10,000 targets increasingly seen as realistic.