Ether (Eth) It has risen 5% in the last 24 hours to $ 4,470, its highest price since December 2021.
Help the upward action in Crypt in general was the consumer price index report on Tuesday morning. While the data were mixed and inflation remains above the 2% target of the Federal Reserve, the market participants raised bets in the US Central Bank. UU. Cutting interest rates in their next meeting in September.
The impulse of ether in particular was a new higher mass leg in the growing corporate treasury strategy movement. He is already the owner of approximately $ 5 billion in ETH, Tom Lee’s Bitmine Immersion Technologies (BMNR) The plans revealed to raise up to $ 20 billion in capital for new purchases.
The measure extends a month rally for the native token of the Ethereum Network, which also continues to surpass Bitcoin after years of severe relative weakness. The ETH/BTC ratio increased above 0.37 on Tuesday, now higher by almost 50% during the past month, although even lower in 15% year after year.
A key driver in recent weeks has increased entries in funds quoted in the US ether exchange. On Monday, Ether Etfs saw a $ 1 billion record in daily tickets, again exceeding his Bitcoin equivalents.
“Ethereum’s superior performance today, with a gain of more than 4% against Bitcoin’s off movement, reflects the market approach to its own set of powerful catalysts,” said Axel Rudolph, Senior Technical Analyst of IG. “Institutional entries in the US ET Spot Eth. UU. After the impression of the United States CPI, along with the growing confidence in recent network updates, they are demonstrating much more convincing for investors than the broader impulse that supports the bitcoin.”
Supporters have increasingly called Ethereum “the Wall Street block chain”, pointing to its central role in asset token, hosting decentralized financial platforms and feeding settlement systems that resemble traditional market infrastructure.
“We are seeing a wave of renewed interest of institutional and sophisticated investors that see ETH as more than a cryptography of ‘second place’,” said David Siemer, co -founder and CEO of Wave Digital Assets. “They see it as the backbone of Defi, Tokenization and the largest intelligent contract ecosystem.”
“Given the backdrop of greater regulatory clarity of the USA. And the passage of the genius law, combined with the digital asset bonds focused on eth, such as Sharplink, which buy significant amounts of the token, and a resurgence in the defi activity in the protocols centered on ETH, it is clear that there is a broader institutional interest in the ecosystem,” he said.
If the Fed offers the commitment of rates operators, the combination of a more flexible monetary policy, a strong demand of the ETF and the strategic positioning by large investors could further boost the ETH career, although, as with past manifestations, volatility can be so intense on the way down.
UPDATE (August 12, 17:53 UTC): Add more comments from David Siemer, co -founder and CEO of Wave Digital Assets.
