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Ethereum rallies 60%, has its best month in years: Will August bring more gains?
ETH surged nearly 60% in July as ETFs posted historic inflows and retail traders enjoyed profits.
The Ethereum [ETH] market saw a meteoric rise of approximately 60% in July, marking one of the strongest monthly performances for the asset in recent times. This surge can be attributed to record-breaking ETF inflows and an upswing in retail profitability.
As investors continue to seek out high-growth assets, will August bring even more gains?
Over 1 million ETH have been withdrawn from exchanges over the past two weeks alone, suggesting that long-term holders are taking control of their assets. This is a powerful indicator of conviction among traders anticipating a decisive bottom breakout.
On-chain and derivatives data confirm strong accumulation by whales and long-term holders.
Source: ambcrypto.com
