Ethereum just delivered its strongest monthly rally in three years, jumping 56% in July and drawing comparisons to the early tech boom of the 1990s.
The price soared from $2,468 at the start of the month to $3,862, with analysts pointing to a wave of inflows into spot Ethereum ETFs as the primary catalyst.
Bloomberg’s Eric Balchunas likened Ethereum’s current trajectory to the rise of 90s tech stocks, driven by explosive adoption and investor excitement. Over a 19-day stretch in July, spot ETH ETFs pulled in $5.37 billion, including a single-day high of $727 million. BlackRock’s iShares Ethereum ETF reached $10 billion in assets in just 251 days—an achievement few ETFs have matched.
While ETH is soaring on investor sentiment, activity on the Ethereum network tells a different story. According to 10x Research’s Markus Thielen, network revenue has barely budged and remains well below the highs seen in late 2021. In fact, much of the recent price action has come during Asian trading hours, suggesting a regionally concentrated surge.
Despite the disconnect between protocol revenue and market cap—now $466 billion—interest from institutions is rising fast. And with ETF inflows outpacing even Bitcoin’s in recent weeks, Ethereum’s breakout may just be getting started.
Alexander Zdravkov
Reporter at Coindoo
Alexander Zdravkov is a person who always looks for the logic behind things. He is fluent in German and has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
Source: https://coindoo.com/ethereum-posts-best-month-in-years-as-etf-frenzy-fuels-56-surge/