The cryptocurrency market rose by 0.84% over the past 24 hours, with an upward trend continuing over 7 days (+2.93%) and 30 days (+16.48%). Key factors behind this growth include momentum from the Ethereum ecosystem, the integration of the decentralized Coinbase platform with Base, and financial institutional inflows into ETH-related products.
Ethereum updates over 10 years – Protocol improvements and ETF inflows drive ETH dominance to 12.56% (+0.73% over 24 hours)
Integration between Coinbase and Aerodrome – Over 100 million users gain access to Base system assets through trading on the DEX platform.
Clarity on liquid staking – SEC guidance on not considering certain models as securities enhances decentralized finance (DeFi) activity.
Detailed analysis
1. Momentum of the Ethereum ecosystem (Positive impact)
Overview: Ethereum's market value increased by 4.3% as the network celebrated its 10-year anniversary, witnessing significant updates such as the Pectra hard fork and EIP-7702 with improvements in scalability. Instant ETFs in ETH attracted $1.13 billion in June 2025 alone (CoinMarketCap). The total value locked (TVL) on the Aave platform surpassed $60 billion, a record in decentralized finance, reflecting renewed institutional confidence.
What does that mean? ETH plays a key role in real-world assets (RWAs) that represent 60% of tokenized assets, in addition to having 35 million ETH locked in staking, creating increasing and accumulating demand.
What to watch: The main Taiko network update on August 11, which will enable transaction confirmations in just two seconds.
2. Leap in exchange infrastructure (Positive impact)
Overview: Coinbase's integration of the decentralized Aerodrome platform made every token from the Base system available to over 100 million users. This led to a 361% increase in AERO trading volume and a 40% growth in liquidity for Base assets.
What does that mean? Seamless integration between centralized (CEX) and decentralized (DEX) platforms reduces barriers for both individual and institutional users.
3. Change in overall market sentiment (Mixed impact)
Overview: The correlation of cryptocurrencies with the Nasdaq index reached 0.48 over 24 hours, with the QQQ index rising by 0.49% amid weak employment data. However, Bitcoin whale accumulation in the range of $117,000 to $122,000 faces profit-taking risks.
What does that mean? While stocks support the cryptocurrency market, Bitcoin liquidations worth $25 million in 24 hours indicate the potential for increased volatility.
Summary
Technical updates to Ethereum and the expansion of the Coinbase ecosystem are fostering sustainable market growth, although leveraged positions on Bitcoin near its all-time highs call for caution. Will ETH be able to maintain its leadership as the total value locked in Base approaches $10 billion? Monitor ETH's dominance against BTC (12.56% vs. 59.6%) and trading volume after the Aerodrome integration for market trend indicators.
