Today, people are waking up to green or closing their eyes to it. What's happening? Fed Chair Powell, has indicated that the Fed is likely to begin cutting rates in September. This is causing a big spike in ETH. Why? Ethereum is the most rate-sensitive aspect of crypto. As interest rates drop, the spread between what can be earned by depositing your stablecoins in Defi vs. depositing your USD in a bank widens. Interest rates in your bank account are highly correlated to the interest rates set by the fed. While the interest rate in Defi is more of a function of the demand for leverage in the system. Discussed this with @SergeyNazarov in January. Lower rates means more stablecoin inflows into Ethereum. ETH szn is heating up. Defi, Gaming, NFTs, come next.(Jihoz.ron)