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Benzinga

Business

Khyathi Dalal

Ethereum's Rally Driven By Fresh Inflows, Not A Rotation Out Of Bitcoin: Report

Bitcoin Ethereum Crypto

Chess,Pawns,Of,Bitcoin,And,Ethereum,Are,On,The,Classic

Ethereum (CRYPTO: ETH) has outperformed Bitcoin (CRYPTO: BTC) in July, rallying over 53% from $2,398 to $3,850. While some attributed this surge to capital rotating out of Bitcoin, on-chain data tells a different story.

What Happened: CryptoQuant data shows that Bitcoin's Realized Cap reached an all-time high of $1.018 trillion on July 25.

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