The truth behind this surge in Ethereum
In July, #Ethereum suddenly went crazy—a 60% surge in one month.
Social circles are all buzzing: Is the bull market coming back? Should I go all in?
Don't rush; this wave is not a 'crypto revival' brought about by technical breakthroughs, but a thorough capital feast. What truly drives the market is the collaboration and harvesting of U.S. ETFs and a group of Wall Street giants.
Who is driving the market? It's not retail investors, it's Wall Street.
Blackstone directly swept up 600,000 ETH, Bitmine simply bought 100,000, and established institutions like Pantera and Canter have long been poised.
On-chain activity hasn't changed, transaction fee income remains sluggish, but new buying pressure of 1.8 million ETH has artificially pushed prices sky-high. The data tells us:
ETF: 1 million coins
U.S. listed companies: 300,000 coins
Institutions and large holders: 400,000 coins
Retail investors: only 100,000 coins
This is a standard capital linkage script—
ETFs are responsible for compliance entry to attract capital; listed companies are boosting market value and speculating on hotspots;
Pantera tells stories and creates narratives; Canter is good at legalizing gray stories;
Wood's sister and the media are stirring the pot, ultimately handing this 'packaged capital commodity' to retail investors.
Is Wall Street's 'full bloom' plan in motion?
They're not only focused on #ETH , #solana is also at the table.
In July, SOL rose 65%, daily active users broke 1.6 million, meme coins exploded, and the capital lineup closely overlaps with ETH, but the strategies differ: ETH is focused on institutions, while SOL is aimed at users—one builds asset consensus, the other boosts grassroots popularity—Wall Street's strategy is clear: dual-line bloom.
For established players like #BNB and #TRON, their businesses and ecosystems are solid, but the biggest problem is the lack of a channel to 'put the coins into the pockets of U.S. investors'. BNB has submitted its IPO application to NASDAQ, and TRON is also working on a dividend mechanism; whether they can join Wall Street in the future depends on whether ETFs can be realized.
This is not a bull market in the crypto space, but a 'crypto capital bull market.'
To determine whether this round is a long run or a short-lived one, look at three signals:
Capital inflow: ETFs and coin-holding companies' stock prices hit new highs;
Policy direction: The stablecoin bill has passed, and if two key bills pass, the policy environment will be completely open;
Holding structure: Retail investors are being replaced by stable funds like retirement funds and family offices.
Moving forward, even if on-chain technology is superior, it may not determine prices; the direction of capital is the true trend indicator.
The market comes in waves; it's easy to get lost when going solo.
If you want to seize the next doubling opportunity, feel free to join my circle to communicate and bottom-fish with a group of old friends! Let's avoid detours and outperform the next bull market!
