PANews reported on July 9 that according to 10x Research, the current price of Ethereum has broken through the 7-day and 30-day moving averages, showing a bullish trend, with a 3.6% increase in the past week. This round of gains was driven by ETF fund inflows, with a total size of US$148.5 million, of which BlackRock's iShares Ethereum Trust had an asset size of US$4.6 billion, becoming the main contributor.

In addition, BitMine supported its Ethereum treasury strategy with a $250 million private placement, further boosting market confidence. Meanwhile, SharpLink Gaming recently acquired 9,468 ETH worth approximately $22.8 million, indicating that institutional investors’ demand for Ethereum continues to grow.