Ether surges, trading close to its record again after Powell speech teasing rate cuts
The second-largest cryptocurrency was last higher by 12% at $4,738.91, according to Coin Metrics. Last week, ether nearly touched its 2021 all-time high of $4,866.01, before falling as low as the $4,000 level this Tuesday. The price of ether rebounded to near-record levels on Friday after Federal Reserve Chair Jerome Powell hinted at upcoming rate cuts and investors returned to risk-on mode. The moves came during Powell's annual address from Jackson Hole, Wyoming. "With policy in restrictive t