Ether notches first new record since 2021 after Powell speech teasing rate cuts
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Price ether Federal Reserve President Jerome Powell broke the 2021 record on Friday after implying the upcoming ratio interruptions and investors returned to risk-on mode.
The second largest crypto currency increased by 15% on Friday to $ 4,885,00, and in November 2021, it exceeded the $ 4,866.01 record.
Bitcoin It increased by 4 % to $ 117,008.29.
Ether (ETH) Powell’s Jackson Hole speech jumps
The movements arrived during Powell’s annual address from Wyoming Jackson Hole. “With the policy in the restrictive region, the basic appearance and changing risk balance may require adjusting our policy stance.” He said.
“Traders today seem to have been completely caught by Powell’s Dovish comments,” Crypto Trade Capital CEO, CEO of Capital CEO. He said. “In recent sessions, market positioning, crypto and technology has seen clear risky movements, and today’s September ratio deduction causes a panic reposition, which will continue during the weekend of the non -liquid.”
“Momentum has returned to the menu with management, and the FED was aligned to appear to be apparently easier.”
During the speech, ETH saw short liquidations of approximately $ 120 million in a period of one hour, according to Coings. When merchants use leverage for short ether and the price of the coin rises. In contrast, this increases the price of the coin even further and causes more positions to be liquidated.
The shares of the companies focused on accumulating ether, the hardest hit, which splashed with money on Friday, when investors returned from technology names. Plunge And Sharplink game It increased by about 12% and 15%, respectively. It fell almost 8% a week, the first week is in three.
Peter Thiel supported stocks Ethzilla Rolled more than 31% at some point on Friday ether Treasury company Presented up to 74.8 million shares For re -sale. Following Powell’s Jackson Hole’s statements, the 31.4% session ended.
Elsewhere, solana -oriented treasure company Defi Development Increased by 21 %and Crypto Change Coin and Bitcoin proxy Strategy Each 6% advanced.
For the last two months, Ether turned Bitcoin to lead the crypto market. This change was catalyzed by regulatory tail winds, which constitute 40% of all Blockchain fees and caused institutional interest around the Stablecoins, which were supported by Ethereum Blockchain.
ETER “The next 10 to 15 years is the largest macro trade, and many of them are about Stablecoins chat for a crypto GPT moment,” Fudstrat’s Tom Lee recently said CNBC’s “Change worldwide”. “And now, there is even a movement and project crypto from the SEC, which runs to the Wall Street’s block chain.”
– Nick Wells of CNBC contributed to reporting
