Ether (ETH) turns 10 with its best July performance in three years, surging over 50% to $3,940 before settling below $3,800. Inflows from capital markets drive this rally, with U.S.-listed spot ETH ETFs seeing $5.4 billion in net inflows. Public companies scoop up $6.2 billion worth of ETH for digital asset treasuries.

ETH’s positive narrative shift positions it as a key player in the stablecoin and tokenization market. New U.S. rules for stablecoins under the Genius Act benefit ETH, which hosts over half of the $250 billion stablecoin supply. Price-wise, ETH faces resistance at $4,000, aiming for $4,700 in its current run, according to crypto investor Bob Loukas.

The crypto market enters a quiet phase, possibly cooling off ETH’s rally in a consolidation phase. Despite this, ETH could still push higher, reaching $4,700, as the backbone of the stablecoin market. The latest entrants in the digital asset treasury space, like ETHZilla and Ether Machine, raise large sums of capital for asset purchases.

Read more at Yahoo Finance: Ether Eyes Biggest Monthly Gain Since 2022 as ETFs, Corporate Treasuries Drive Rally