Record ETH ETF Money Dem Dey Enter Fuel ETH Rally; DOGE and Pengu Dey Surge
Record ETH ETF inflows wey reach $726.7 million for Wednesday make Ethereum price reach six-month high of $3,463, with BlackRock’s ETHA ($499 M) and Fidelity’s FETH ($113 M) leading. July net ETF inflows hit $2.27 billion, and US spot Ethereum ETFs don hold over 5 million ETH (4% of supply). Institutional accumulation still rise: SharpLink Gaming, BitMine Immersion and World Liberty Financial add hundreds of millions for ETH. The broad altcoin market like Dogecoin, XRP, Solana, BNB, Tron and Cardano perform pass Bitcoin because of renewed risk appetite and strong supply absorption. Memecoin Pengu sharply surge on elevated trading volumes and social media buzz, show say trader focus dey shift and e reinforce confidence for Ethereum market position.
Bullish
Record ETH ETF inflows don mark new high wey signal strong institutional demand, e push Ethereum reach six-month peak. Continous ETF inflows plus plenty corporate treasury buys show say buying pressure still dey steady. Di spillover rally for major altcoins like DOGE, XRP and SOL plus di sharp rise for memecoin Pengu mean say market participation and risk appetite dey grow. Short term, high inflows fit push price go higher as ETFs dey absorb di supply wey dey. Long term, di growing institutional allocation to ETH ETFs dey support bullish outlook, fit cement ETH role beyond DeFi into mainstream asset portfolios.