Ethereum surged to the 30th position in global market capitalization, even surpassing Johnson & Johnson, which is no coincidence. As Bitcoin peaked and then declined, market funds are rapidly flowing into ETH and altcoins. In the past 24 hours, the liquidation amount reached as high as 521 million USD, mostly from short positions. The Solana spot ETF continues to attract capital, with an inflow of 3.3 million USD in a single day, totaling 73 million USD. On July 18, a certain Bitcoin ETF is about to be listed on the Hong Kong Stock Exchange, and the 'home field advantage' of crypto assets is becoming increasingly apparent, with the logic of capital allocation changing.