Ethereum soared to a new all-time high (ATH) on Friday, driven by dovish comments from Federal Reserve Chair Jerome Powell during the Jackson Hole summit earlier that day. Currently trading at $4,700, the price has slightly dipped since, but remains in highly bullish territory.
However, a Fed policy shift and institutional demand are expected to push Ethereum well beyond $5,000 by the end of this year, according to some analysts. Meanwhile, other experts are predicting an Altcoin Season as Ether continues to outperform Bitcoin.
Last week, jitters arose due to hot PPI data, but these concerns have faded as the Fed appears to be shifting its focus from inflation to employment data, sparking a revival in bullish momentum.
As a result, 30 of the top 100 cryptocurrencies have risen 10% or more in the past 24 hours, reflecting strong positive market sentiment. But with rate cuts and a potential Altcoin Season on the horizon, the gains seem only to be beginning. So what is the best crypto to buy now?
Ethereum Prints Fresh ATH on Fed Pivot
Ethereum has rebounded over 250% from its April lows to reach a new all-time high of $4,870 on some exchanges. This surge followed Jerome Powell’s comments at the Jackson Hole summit, which set expectations for a September rate cut:
“With policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance,” Powell said.
Within an hour of the speech, the price of Ether increased by roughly 5%, and it has gained about 10% over the past 24 hours, with trading volume rising 143% to $81 billion.
Standard Chartered recently raised its year-end Ethereum price target from $4,000 to $7,500, citing increased institutional interest, corporate treasuries, and regulatory developments as factors boosting its growth prospects.
Meanwhile, Coinbase Institutional predicts a “full-scale” Altcoin Season will begin in September, as Ether’s strength bolsters altcoin momentum and Fed rate cuts encourage greater retail participation.
Liquidity is also visibly rotating from Bitcoin to Ethereum, amplifying the possibility of an Altcoin Season. A long-term Bitcoin whale recently sold $75 million worth of $BTC to long $ETH – highlighting how investors’ Ethereum appetite is increasing.
Historically, when Ethereum dominance rises, that liquidity often cascades into mid- and small-cap altcoins, which can result in much bigger gains. With that in mind, let’s look at three cryptos that could explode in the weeks ahead.
TOKEN6900
TOKEN6900 is an Ethereum-based meme coin inspired by SPX6900, one of the top-performing cryptocurrencies of this year with a 10,000% gain.
If Ethereum rallies to $7,500 this year as Standard Chartered predicts, it could unlock huge growth opportunities within its ecosystem. TOKEN6900 is launching just as this parabolic move potentially might occur.
It’s the anti-TradFi meme coin that embraces ‘69 culture and loudly boasts about having no utility. The project describes itself as the first “non-corrupt token,” arguing that most other cryptocurrencies try to hide behind a facade rather than admit they are mainly meant for speculation and gambling.
The project’s narrative is wild and abstract; it pushes boundaries and provokes questions – and during a bull market, projects like these can perform exceptionally well. It is currently in a presale phase and has raised $2.4 million so far, indicating strong investor interest.
However, the presale will end in just five days, so interested buyers should act quickly. Visit TOKEN6900.
Lido DAO
Lido DAO is an Ethereum-based liquid staking protocol and the largest DeFi operation in the crypto space with $41 billion total value locked (TVL). The project provides a decentralized platform that connects Ethereum validator operators with Ether holders who want to stake and earn yield on their coins without running costly hardware themselves.
It’s also important to note that to operate a validator, you must deposit 32 ETH, but no such requirement exists for Lido DAO delegators.
The project experienced a significant price increase this month after SEC Chair Paul Atkins dismissed the possibility of liquid receipt tokens falling under securities law. This good news removed a regulatory obstacle for Lido DAO, prompting a demand surge that drove its price 41% higher this month.
Coinbase also highlighted that Lido DAO was among the top-performing Ethereum beta plays in its recent Altcoin Season report.
So as Ethereum continues to surge on dovish Fed comments, there’s a strong chance that $LDO could keep outperforming. We can see that already happening today with Ethereum up 10% while Lido DAO has gained 14%.
Bitcoin Hyper
Ethereum has attracted significant interest from institutional investors and whales as a higher-growth alternative to Bitcoin. In the same lens, a newly launched cryptocurrency called Bitcoin Hyper is gaining a lot of attention.
It’s the first-ever Bitcoin layer 2 blockchain built with ZK-rollups, and it also uses Solana Virtual Machine (SVM) execution, meaning it inherits Bitcoin’s security and Solana’s speed. Additionally, it creates interoperability between Bitcoin and Solana.
The project’s SVM execution allows Solana developers to port apps and tokens to the network, while its trustless canonical bridge enables Bitcoin holders to securely transfer their coins. As a result, Bitcoin Hyper sits at the crossroads of two of crypto’s hottest ecosystems, paving the way for a vibrant and valuable network unlike anything we’ve seen before.
Currently in presale, Bitcoin Hyper has raised over $11 million so far, making it one of the largest ICOs on the market.
With such strong presale momentum, its early-stage development, and a market-leading use case, Bitcoin Hyper could prove to be the best crypto to buy for Altcoin Season gains. Visit Bitcoin Hyper.
