In the most recent trading session, Ethereum recorded around $4,8704,887, up more than 14% in just one day. Trading volume reached approximately 76 billion USD, reflecting strong demand.
This is the first time since 2021 that ETH has returned to a historical peak and continues to be expected to lead the market's recovery trend.
Bitcoin, the largest cryptocurrency, also showed a significant increase.
BTC price at 8:00 a.m. this morning Vietnam time fluctuated around 117,000 USD, up about 4% in 24 hours.
Although the currency had previously experienced a nearly 8% decline in the week, positive information from US monetary policy and improved market sentiment have helped prices recover quickly.
Notably, the altcoin group grew strongly.
Binance Coin (BNB) continues to attract attention as it maintains an upward trend and approaches the all-time high. Solana (SOL) increased by nearly 10%, currently reaching the 199200 USD zone. XRP also broke out with an increase of more than 7%, to about 3.08 USD. Dogecoin a currency that is often volatile according to community psychology also benefited from the positive atmosphere, increasing by more than 10% on the day.
According to analysts, the momentum for this increase comes from expectations that the US Federal Reserve (Fed) will loosen policy in the coming time.
Chairman Jerome Powell's speech on the night of August 22 (Vietnam time) somewhat eased concerns about high interest rates and encouraged capital flows to return to risky assets.
Many people believe that after a long time of " say no to interest rate cuts", in the near future, the FED will have more flexible adjustments.
Ethereum, as the foundation for a series of decentralized applications, is benefiting directly from this cash flow.
With ETH surpassing the old peak, investor sentiment is strongly consolidated, creating a spillover effect to the entire market.
From Bitcoin to mid-cap altcoin, all grew simultaneously, fueling expectations for a new price increase cycle.
However, analysts also warn that the hot rally could lead to short-term corrections, and investors should closely monitor global policy fluctuations.
In Vietnam, Bitcoin and other cryptocurrencies are not recognized as legal payment methods and are not protected by law. Investors need to be cautious, avoiding risks from strong price fluctuations and fraud related to cryptocurrency.
