Ethereum is identified as the most interest rate-sensitive cryptocurrency, according to Axie Infinity co-founder Jeffrey "Jiho" Zirlin. This observation comes as the cryptocurrency market rallied following dovish comments from Federal Reserve Chairman Jerome Powell, which fueled speculation about a potential interest rate cut in September. Zirlin noted that the yield gap between depositing stablecoins in DeFi and holding US dollars in banks widens as interest rates decrease, making ETH particularly responsive to such changes. Despite the optimism, St. Louis Fed President Alberto Musallem emphasized the need for more time to decide on supporting a rate cut. Nonetheless, some market participants remain hopeful for further gains if Powell signals a rate reduction.