Ethereum Turns 10 Years Old: This Is How It Rose 60% in July

July 30, 2015, is the launch date of the popular blockchain network Ethereum. Its native Token, ETH, is the second largest cryptocurrency in the world, with a market capitalization and global popularity reaching $460.33 billion. Notably, this token is predicted to surpass Bitcoin in the future, although that is still far off, but its 60% growth in July has attracted investors. Ethereum Soars 60% Ahead of 10th Anniversary Ethereum experienced one of the most impressive monthly growth rates in July, especially as significant volatility was recorded throughout the month. With an upward trend from the first day of the month, the price increased by 60%, reaching a peak of $3,915 on July 28. Another milestone for ETH is the celebration of its 10th anniversary today, July 30, with a relatively optimistic outlook. This reflects strong demand from institutions and market optimism, driving ETH toward the $4,000 mark. Although the token has stabilized since then, currently trading at $3,807.73, it is still quite notable. Notably, this month, this coin has surpassed Bitcoin in price performance and ETF inflows on certain days, signaling significant capital rotation and increasing demand for this cryptocurrency.

The Top Factors Driving the Ethereum Price Surge in July Interestingly, the overall market has experienced a relatively bullish trajectory this month. Starting with the Bitcoin rally to an all-time high of (ATH), the upward trend has spread to the remaining assets. This has led to a recovery in demand for meme coins and altcoins, including ETH, but there are still many points to discuss. Record Spot ETF Flow Exceeding expectations, the ETH spot ETFs have seen an incredible influx of capital amounting to $5.4 billion this month. This is the largest indicator showing the strong demand from institutions and the support from investors, contributing to a 60% surge. The period from July 11 to 25 was still the strongest growth phase, with capital inflows reaching $4.23 billion. Notably, during the same time, the Ethereum spot ETF funds celebrated their 1st anniversary, making this event even more remarkable.

The Great Accumulation of Whales Whales have made a big bet on ETH this month, as experts note that large holders have added about 1.13 million ETH ( approximately 4.18 billion dollars) in just two weeks. Lookonchain notes that the new wallet, 0x3dF3, has received an additional 12,000 ETH ( 45 million dollars), and nine wallets have added 640,646 ETH ( 2.43 billion dollars).

Sharplink and other organizations are also buying heavily, impacting the price increase. Notably, the increase in ETH whales while the number of whales holding Bitcoin has decreased. Just yesterday, a Bitcoin wallet transferred 15 million dollars to an exchange after 12 years of silence, increasing selling pressure on this token. Institutional and Regulatory Advantages The approval and enactment of the GENIUS Act in the United States is one of the most favorable factors for the growth of altcoins this month. Many other bills such as CLARITY and the Anti-CBDC Act are also under consideration. In addition to events like Crypto Week, today's FOMC meeting, and many other events, they are also affecting the optimistic sentiment of investors. The Thriving Altcoin Season and Capital Rotation As explained above, ETH surpassed Bitcoin in July, as its price increased by nearly 60% while BTC only rose by 10%. This occurred as capital flowed from ETH to altcoins similar to ETH. Additionally, Bitcoin's dominance has decreased, while the Altseason index has risen, sparking excitement around the altcoin season; leading to growth. The ETH/BTC trend also shows that ETH is leading the cycle with demand from investors. Overall, the trend has supported the upward trend of this token this month. However, despite this, it is still a long way from achieving a new ATH, indicating a lack of catalysts. As Ethereum celebrates its 10th anniversary with new developments, adoption, and price increases, expectations for the next decade are very high.