On July 18, analyst Crypto Dan from Cryptoquant published an analysis indicating that a rare Ethereum premium has emerged on the Coinbase platform. The inflow of funds into Ethereum spot ETFs has reached a record high for a single day, suggesting that institutional investors and large holders in the United States are buying Ethereum in large quantities.

The analyst pointed out that there are currently no obvious signs of overheating in the market, indicating that after a short-term consolidation, it is likely to continue moving upwards. While there is no need for concern at this stage, if strong trends similar to this occur multiple times in the second half of 2025, it may indicate market overheating, and risk management should be considered at that time.