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On July 21, according to Alternative data, today's cryptocurrency Fear and Greed Index is 71, down from 72 yesterday (with a weekly average of 74). Market sentiment remains in a "Greed" state. Note: The panic index threshold is 0-100, including indicators: Fluctuation (25%) + market volume (25%) + social media heat (15%) + market surveys (15%) + Bitcoin's proportion in the entire market (10%) + Google Trends analysis (10%).
Rachael Lucas, a cryptocurrency analyst at BTC Markets, stated that Ethereum is gradually being seen as a long-term institutional asset rather than just a trading tool. Currently, these ETF funds hold a total of 4% of the market capitalization of Ether, but institutional capital is rapidly flowing in.
Nick Ruck, the research director at LVRG, added that the current momentum of Ether's development is also related to an increasing number of listed companies investing in cryptocurrency as a financial asset.
On Thursday, BitMine Immersion, backed by PayPal co-founder Peter Thiel, increased its holdings of Ether by $500 million, with a total value of over $1 billion. The company announced its strategy earlier this month, aiming to control 5% of all Ether holdings or staked assets. In addition, the gaming marketing company SharpLink Gaming also made an acquisition worth $225 million.