8.7 Ethereum Market Overview
ETF Performance:
Hong Kong Stock ChinaAMC Ether ETF slightly up 0.06%;
US Stock Grayscale Ethereum ETF up 3.24%.
Market Dynamics:
In July, stimulated by US crypto legislation, Ethereum ETF saw a net inflow of $2.27 billion in a single day, with Ethereum rising 21.7% for the week, briefly surpassing $3600.
On August 2, risk aversion caused prices to drop over 5%, with $700 million liquidated across the network in 24 hours, affecting 160,000 people.
Key Factors:
Ethereum 2.0 upgrade Layer 2 expansion driving demand;
Institutional accumulation;
Bitcoin correlation effect Regulatory uncertainty in various countries.
Technical Analysis: Pay attention to key support/resistance levels, breakout or pullback may increase.
