Attention, my people! 🚀 Get ready because Ethereum made a leap that left more than one person speechless in July. Almost 60% up! And the million-dollar question is:
The truth is that July was a month to remember for Ethereum [ETH]. We saw a takeoff that hadn't been seen in years, with an explosive rise of 60%. What was the reason? Well, an explosive mix of historic inflows into ETH ETFs and a lot of profits for retail investors. It seems that people are starting to really like this crypto!
The most interesting thing is that in just two weeks, over 1 million ETH left centralized exchanges. This is a clear sign that the "hodlers," those who hold their cryptos long-term, are taking control. They think something big is coming, and they are accumulating as if there were no tomorrow! 📈
This July boom not only gave a boost to ETH but also placed it at the top of cryptocurrencies by market capitalization. Net inflows from ETFs exceeded 1.6 million ETH for the month, crazy! And while retail investors were pocketing their profits, the whales (investors with a lot of money) were in accumulation mode, buying large. Transactions over $1 million skyrocketed, showing the interest of the big players. 🐳
Despite the momentum slowing down a bit, ETH remains strong above $3,450. The market is neither too "long" nor too "short," which means we are at a key point, waiting for the next move. If buyers step up, this consolidation phase could be the launchpad for another rise.
So, let’s stay alert! The outlook remains positive and there could be more surprises. Will August bring us more joy with Ethereum? Only time will tell. Stay connected and keep your eyes wide open. 😉$ETH
