Why did Ethereum have a big pump?

The strong performance of Ethereum today is not a coincidence, but rather the result of several factors working together:

1. Macro policies favorable: The Federal Reserve's dovish turn: This is the most critical catalyst. Federal Reserve Chairman Powell signaled a dovish stance (leaning towards easing monetary policy) at the Jackson Hole seminar, and the market's expectation of a rate cut by the Federal Reserve in September rose to 89%. The expectation of liquidity easing has led to more funds flowing into risk assets such as cryptocurrencies, and ETH, as one of the core assets in the crypto market, benefits directly.
2. Institutional funds are flooding in through ETFs: The Ethereum spot ETF has become an important channel for traditional capital to enter the market. Data shows that the total assets under management of the U.S. Ethereum spot ETF have surpassed $12.12 billion. ETF products from financial giants like BlackRock have seen huge inflows (BlackRock once had an inflow of $640 million in a single day), providing significant buying support for the market.
3. Companies are purchasing and staking ETH on a large scale: An increasing number of listed companies are incorporating ETH into their balance sheets as reserve assets. Currently, the total value of corporate ETH holdings has soared to $31 billion. These companies not only purchase ETH but also stake it to earn returns (annualized around 3%-5%), which effectively locks up a large amount of circulating supply, reducing market selling pressure and positively impacting prices from a supply and demand perspective.
4. Confidence brought by technical breakthroughs: The price has successfully broken through the historical high of 2021, which is an extremely important technical and psychological breakthrough. It confirms the long-term upward trend, attracting a large number of technical traders to follow the trend and buy in, resulting in a bullish market sentiment. #Token of Love广场打CALL赢门票#