Ether has reached a record for the first time in almost four years, the second largest cryptocurrency benefiting from a renewal of demand after being presented for a long time as an alternative more adaptable to the Bitcoin cryptographic market.
The native token of Ethereum blockchain increased by 15% to US $ 4,866.73, exceeding the highest of all time of US $ 4,866.40 reached in November 2021.
Ether increased by more than 40% this year, surpassing bitcoin even though the digital currency of origin continues to set new heights after winning Donald Trump’s approval in the US presidential election last year.
The two tokens joined Friday after the president of the federal reserve, Jerome Powell, opened the door to a reduction in the interest rate in September while speaking to the Jackson Hole symposium of the Central Bank.
Bitcoin reached a record of just over US $ 124,500 on August 14. Lower interest rates often push investors to more risky risky assets such as stocks and cryptocurrencies.
“For cryptographic markets, the reaction was rapid and positive,” said Katalin Tischhauser, research manager at Sygnum Bank. “In the bull cycle focused on today’s liquidity, investors are quick to enter the dominant signals, and Powell’s comments offered exactly this.”
