According to TechFlame, on July 21, Matrixport released today's market analysis. Ethereum (ETH) performed well during the Asian trading session, with a monthly increase of 66%, far exceeding the global average of 45% and 2% of the US market, while the European market fell 23%. Analyst Markus Thielen pointed out that the influence of the Asian market is becoming more and more prominent and has become the main force driving ETH's strong rise over the weekend. In addition to speculative capital and institutional allocations, the recovery in DeFi activity is also an important driver of Ethereum's rise. Currently, the ETH funding rate has risen to double

digits. Combined with futures holdings and ETF capital inflows, the market is gradually heating up, although the overall level is still in a moderate range.