1. Policy Benefits: Compliance Framework Accelerates Institutional Entry

  1. U.S. Cryptocurrency Legislation Implementation

    In July 2025, the U.S. passed the Digital Asset Market Modernization Act (DAMM Act), which clearly specifies the securities exemption clause for Ethereum and other PoS (Proof of Stake) chains, providing legal protection for institutional investors. This move directly reduces compliance costs and accelerates the layout of crypto assets by traditional funds and family offices.

  2. Regulatory Signals Clarified

    The U.S. SEC (Securities and Exchange Commission) simultaneously released regulatory guidelines for Ethereum ecosystem projects, allowing compliant DeFi protocols to connect with traditional financial systems. The stability of policies has increased, attracting hedge funds and sovereign wealth funds to enter the market.

  1. Ethereum ETF Net Inflows Hit Record High

    According to CoinShares data, on July 17, the single-day inflow of Ethereum ETFs reached $230 million, with a monthly cumulative net inflow exceeding $1.5 billion, setting a historical record. The concentrated capital allocation reflects institutional recognition of Ethereum's long-term value.

  2. Market Liquidity Tightening

    The increase in ETF holdings has led to a decrease in circulating supply, exacerbating short-term supply-demand imbalances. The current circulating supply of Ethereum has dropped to 82%, lower than Bitcoin's 88%, highlighting the significant scarcity effect.

3. Corporate Strategy: From Speculation to Long-Term Holding

  1. Examples of Major Companies Increasing Holdings

    Tech giants like Microsoft and Tesla announced on July 15 that they had increased their holdings of Ethereum for cloud service computing power and AI model training costs. The total reserve scale exceeds 50,000 ETH, equivalent to $1.8 billion.

  2. Staking Economic Model Strengthened

    Ethereum staking annualized returns have stabilized at 4.5%-5.2%. Coupled with DeFi protocol liquidity mining returns, institutions are more inclined to hold long-term rather than sell, forming a positive cycle of 'locking and appreciation.'

4. Technical Upgrade: 2.0 Ecosystem Unleashes Growth Potential

  1. Consensus Mechanism Optimization

    After the Ethereum 2.0 upgrade, Gas fees have decreased by 67% compared to 2023, and TPS (transactions per second) has increased to 100,000. Layer 2 scaling solutions (such as Optimism and Arbitrum) have surpassed an average daily transaction volume of 1.2 million, with continued enhancement of ecosystem activity.

  2. Developer Ecosystem Explosion

    GitHub data shows that in the first half of 2025, over 2,000 new projects were added to the Ethereum ecosystem, covering fields such as DeFi, NFT, and AI infrastructure. The number of developers increased by 40% year-on-year, and the pace of technical iteration is leading compared to other public chains.

5. Market Sentiment and Technical Resonance

  1. Breakthrough Key Resistance Level

    ETH has experienced multiple tests near $3600, and this breakthrough is accompanied by increased trading volume (with a single-day trading volume of $12 billion on July 18), forming a MACD golden cross, indicating a clear bullish signal in the short term.

  2. Cross-Asset Linkage Effect

    The rise of ETH drives a general surge in altcoins, with ecosystem tokens such as Polygon (MATIC) and Avalanche (AVAX) rising over 15%, forming a 'leader-led sector rotation' trend.

The current rise of ETH is the result of the synergy of policy, capital, technology, and ecosystem. In the short term, attention should be paid to the resistance in the 3600-3700 range. In the medium to long term, the Ethereum 2.0 upgrade and the continued influx of institutional capital may push it towards $4000. Investors are advised to dynamically adjust strategies based on market sentiment indicators.

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