Matrixport: Asian funds drive Ethereum's rise, DeFi recovery will support market continuation
BlockBeats news, on July 21, Matrixport published today's market analysis stating that Asia continues to lead in the performance of altcoins, especially Ethereum (ETH) and XRP. Ethereum has consistently shown resilience driven by several key catalysts. Despite the current Gas fees being relatively low, the funding rate has risen to double digits—though this figure remains moderate compared to the scale of futures positions and the inflow of funds into Ethereum ETFs.
Last week, Matrixport analyzed Ethereum's performance during different trading sessions globally, and Asia's influence has since become increasingly significant—directly driving the strong rise of ETH over the weekend. However, this story is not limited to speculative fund flows and institutional capital allocation. The notable recovery of decentralized finance (DeFi) activities is also providing support for Ethereum's upward trend.
