Ethereum (ETH) posted its biggest monthly gain since 2022 during July of this year.
The second biggest cryptocurrency by market capitalization, which is celebrating its 10th anniversary, rose 46% in July to currently trade at $3,633.83 U.S. per digital token.
Ethereum’s price peaked at $3,940 U.S. in July, before pulling back some.
The last time ETH rose as much in a single month was in July 2022 when it was climbing out of the crypto winter that had occurred at that time.
Analysts say the strong showing for Ethereum over the past month has largely been due to strong inflows into U.S.-listed exchange-traded funds (ETFs).
Spot Ethereum ETFs saw net inflows of $5.4 billion U.S. during July, the strongest monthly performance ever for the investment vehicles.
Ethereum is also benefitting from growing institutional buying and as corporations add crypto to their balance sheets.
Public companies bought $6.2 billion U.S. worth of Ethereum in July as they adopt crypto treasury strategies, according to data from CEX.io.
Lastly, Ethereum is benefitting from perceptions that it is a proxy for the booming stablecoin and tokenization market.
Ethereum currently hosts more than half of the $250 billion U.S. stablecoin supply, making it the backbone of dollar-pegged digital tokens.
So far in 2025, ETH has risen a total of 9% following a downturn at the start of the year.
