Ethereum (ETH) continues to perform strongly in recent weeks. In just seven days, the currency has risen by 25 percent and today more than four percent profit is added. With this, Ethereum reaches its highest race in four years.
The Ethereum course benefits from a powerful mix of macroeconomic optimism and big news from the investment world, which further strengthens confidence among investors.
CPI figures Feed interest rate reduction speculation
An important support for the rising Ethereum course came today from new inflation figures from the United States.
The annual consumer price index (CPI) remained stable at 2.7 percent in June, while economists counted at 2.8 percent. This feeds the chance that the Federal Reserve will lower interest in September.
Lower interest rates make capital cheaper, which often leads to more inflow into risky assets such as crypto. According to FedWatch data, expectations for an interest rate reduction increased from 84 to almost 94 percent.
Tom Lee wants to buy ETH for $ 20 billion
Other big news came from Bitmine Immersion Technologies (BMNR) from the well -known investor Tom Lee. His company already owns about five billion dollars in ETH, but now announced plans to raise up to twenty billion dollars for new purchases.
That step fits in with the fast -growing trend of companies that put large quantities of crypto on their balance, comparable to what happened earlier at Bitcoin (BTC).
ETH/BTC rises and ETFs break records
Ethereum has continued to perform better in recent weeks than Bitcoin. The ETH/BTC ratio climbed above 0.37 on Tuesday, an increase of almost fifty percent in a month.
The demand for American spot ether ETFs is also huge. On Monday, a record amount of one billion dollars flowed to these funds in one day, with which they surpassed the inflow into Bitcoin ETFs again.
According to Axel Rudolph, senior analyst at IG, these figures show that institutional investors are convinced of the upgrades of the Ethereum network and the role it plays in the tokenization of assets and the Decentralized Finance (Defi) sector.
Source: https://newsbit.nl/ethereum-koers-explodeert-na-cpi-cijfers-en-miljardenplan/
