ETH Surges 3.8% as $73.3M ETF Inflows and Quantum-Resistant Proposals Drive Market Momentum

Ethereum (ETHUSDT) experienced a 3.80% price increase over the past 24 hours, rising from 3882.71 to 4030.18 on Binance. This upward movement is attributed to strong institutional inflows, including a $73.3 million net inflow into U.S. spot Ethereum ETFs and a 127.7% increase in ETF holdings during July, as well as notable accumulation by strategy firms and the conversion of 10,000 ETH to USDC. Elevated on-chain transaction volume, reaching 1.74 million transactions, and technological developments such as proposals for quantum-resistant networks and scaling solutions have further supported market sentiment. Despite some long liquidations and signals of approaching overbought conditions, Ethereum maintained key support levels, with trading volume surging to $39.52 billion and a market cap of $488.91 billion, reflecting robust market activity and continued investor interest.