PANews, July 21 - Matrixport stated in today's chart that the recent altcoin market is driven by the Asian market, with Ethereum (ETH) and Ripple (XRP) standing out. Ethereum continues to strengthen under various potential positive catalysts, even as network Gas fees remain low and market sentiment stays positive. Currently, ETH's funding rate has risen to double digits, alongside increasing futures positions and ETF capital inflows, gradually heating up the market, although the overall level is still in a moderate range. Last week, the institution analyzed Ethereum's performance across global trading sessions, and since then, the influence of the Asian market has become increasingly significant, driving a strong rise in ETH over the weekend. However, this rally is not solely driven by speculative funds and institutional allocations; the recovery of DeFi activity has also become an important driving force for Ethereum's upward trend.
