Rising spot ETF demand, extremely strong technicals and a supply shortage could push ETH price to $6,000 before the end of 2025. Key takeaways: ETH surged 13% on Friday after Federal Reserve Chair Jerome Powell’s dovish Jackson Hole speech hinted at an interest rate cut in September. Onchain and technical indicators signal Ether’s potential to hit $6,000 in the short term. Read more
A mining ban went into effect in the African nation in April 2024, followed by Chinese officials warning residents not to “support or engage in virtual currency mining activities.” The International Criminal Police Organization, or Interpol, announced more than a thousand arrests and the seizure of about $100 million as part of a crackdown that included cryptocurrency miners and fraudsters. In a Friday notice, Interpol said it had coordinated with authorities in Angola to dismantle 25 crypto mining centers being illegally run by 60 Chinese nationals. The organization said it had seized equipment worth more than $37 million, which the Angolan government plans to distribute to “vulnerable areas.” Read more
Record ETF inflows pushed Ether holdings to 6.4 million, tightening supply as the price tested $4,668 after dovish comments from the Federal Reserve Chair Jerome Powell. Key takeaways: Spot Ether ETFs posted record inflows of $7.88 billion across July and August, driving custodial holdings to 6.42 million ETH. ETH tags $4,650 following a 10% rally after Powell hints at a potential rate cut in September. Read more