Ethereum Tops $580B Market Cap, Hits $4.8K Post-Powell
Ethereum’s market capitalisation soared past $580 billion on August 23, 2025, after Federal Reserve Chair Jerome Powell’s dovish comments. Ethereum’s price reached about $4,745, ranking it the 25th largest global asset and surpassing companies like Netflix and Mastercard, each valued near $370 billion. As the second-largest cryptocurrency by market cap, behind Bitcoin’s $2.36 trillion, Ethereum’s performance reflects a reordering between traditional and digital assets. Analysts forecast Ethereum could challenge the $5,000–$6,000 range, but traders should monitor potential headwinds including network congestion, competition from emerging layer-1 blockchains, and volatility from ETF portfolio rebalancing. This bullish momentum coincides with institutional developments: the EU is considering running its digital euro on public chains like Ethereum and Solana, and BTCS recently announced an Ethereum dividend program distributing ETH to shareholders. Crypto traders may view these factors as supportive indicators for Ethereum’s further price appreciation.
Bullish
The significant market cap milestone and price rally following Powell’s dovish stance suggest strong bullish momentum for Ethereum. Historically, dovish Fed signals have propelled crypto prices as traders anticipate eased monetary policy and increased liquidity. Ethereum surpassing Netflix and Mastercard highlights growing institutional adoption and revaluation of digital assets. Analysts’ projections of a $5,000–$6,000 range, coupled with positive developments like EU digital euro & BTCS dividend plan, reinforce optimism. While short-term volatility may arise from network congestion and ETF rebalancing, the overall trend mirrors previous bull cycles where major tech and blockchain milestones triggered extended price advances. Consequently, traders are likely to maintain or increase long positions, expecting continued upside.