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Matrixport: The United States has become the main driving force of this round of market, but the rise of Ethereum is dominated by Asia
Odaily News Matrixport released todays chart, saying that in the past week, Bitcoin and Ethereum rose by 8% and 19% respectively, and the market recovery also triggered concentrated coverage by mainstream media in the United States. Driven by the approaching Crypto Week and rising policy expectations, market sentiment has clearly warmed up.
As stablecoin legislation is expected to be implemented, the voice that the United States is becoming the global crypto capital is becoming stronger. From the stable inflow of ETF funds, the accelerated allocation of crypto assets by enterprises, to the expected listing of Circle, the United States has undoubtedly become an important driving force for this round of market.
Despite the continued robust inflow of funds from the United States, Ethereums recent upward momentum has come more from the Asian market. Over the past month, Ethereum has risen by 18% overall (as shown by the white line in the figure), of which as many as 17 percentage points occurred during the Asian trading hours. This means that the influence of the Asian market in the pricing of crypto assets is continuing to rise, whether in terms of volatility or trading momentum.
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