Ethereum (ETH) experienced a notable price rally in late August 2025, breaking multiple price milestones and reaching new all-time highs. On August 22, ETH surged past $4,400 and quickly reclaimed $4,500, continuing its upward momentum to surpass $4,600, $4,700, and $4,800 within the same day. By the evening of August 22, Ethereum had set a new all-time high (ATH) at $4,866, which was soon updated to $4,880. This marked the first ATH for ETH since 2021. The upward trend continued, and on August 24, ETH broke the $4,900 mark for the first time in history, reaching intraday highs of $4,935 and $4,957. On August 25, Ethereum hit a new ATH of $4,955 before experiencing a sharp correction, dropping nearly 7% to $4,453, with the market capitalization decreasing from $600 billion to $539 billion. The price surge was partly attributed to Federal Reserve Chair Jerome Powell's speech at the Jackson Hole symposium, which hinted at potential interest rate cuts. Despite the correction, Ethereum showed signs of recovery by August 26, with renewed upward movement and indications of another new ATH. Concurrently, Bitcoin mining has also reached a new record hashrate, reflecting broader activity in the cryptocurrency market.