Matrixport: Asian Funds Driving Ethereum's Surge, DeFi Recovery to Sustain Momentum

BlockBeats News, July 21st. Matrixport released today's market analysis, indicating that Asia continues to lead in the performance of altcoins, especially Ethereum (ETH) and XRP. Ethereum has shown resilience driven by several key catalysts. Despite the current relatively low Gas fees, the funding rate has climbed to double digits — although this value remains moderate compared to the futures' open interest and the inflow of funds into Ethereum ETFs.

Last week, Matrixport analyzed Ethereum's performance during different global trading hours, with Asia's influence becoming more significant — directly driving a strong weekend ETH rally. However, this story is not limited to speculative fund flows and institutional fund allocations. The significant resurgence of Decentralized Finance (DeFi) activity is also providing support for Ethereum's upward trend.