📈 Price of Ethereum reaches an all-time high of nearly $5,000!
On August 24, 2023, the price of Ethereum (ETH) hit its multi-year highs, approaching $5,000. This value became the highest since the end of 2021 and occurred against the backdrop of a decline in Bitcoin and the US dollar index. However, just a few hours after reaching the peak, the price of Ethereum dropped by more than 6%.
The rise began on Friday evening after the speech of the US Federal Reserve Chair, Jerome Powell, who outlined possible changes in credit policy. The weak dollar index (DXY) also became an important factor contributing to the growth of cryptocurrency assets.
Interest in Ethereum is also reflected in the capital inflow into exchange-traded funds based on it. However, last week there was a capital outflow from Ethereum ETFs – $237 million, marking the third-largest outflow since their launch.
Despite the immediate rebound, experts assure that long-term trends remain positive due to stable demand for ETH as a reserve asset.
🔗 Please note that cryptocurrencies are highly volatile assets with potential risks of financial losses.
#Ethereum #ETH #cryptocurrency #cryptomarket #bitcoin #investments 🪙$ETH $BNB $SOL
On August 24, 2023, the price of Ethereum (ETH) hit its multi-year highs, approaching $5,000. This value became the highest since the end of 2021 and occurred against the backdrop of a decline in Bitcoin and the US dollar index. However, just a few hours after reaching the peak, the price of Ethereum dropped by more than 6%.
The rise began on Friday evening after the speech of the US Federal Reserve Chair, Jerome Powell, who outlined possible changes in credit policy. The weak dollar index (DXY) also became an important factor contributing to the growth of cryptocurrency assets.
Interest in Ethereum is also reflected in the capital inflow into exchange-traded funds based on it. However, last week there was a capital outflow from Ethereum ETFs – $237 million, marking the third-largest outflow since their launch.
Despite the immediate rebound, experts assure that long-term trends remain positive due to stable demand for ETH as a reserve asset.
🔗 Please note that cryptocurrencies are highly volatile assets with potential risks of financial losses.
#Ethereum #ETH #cryptocurrency #cryptomarket #bitcoin #investments 🪙$ETH $BNB $SOL