Analysis: The heat of the U.S. "Crypto Week" remains high, but the trend of Ethereum is driven by Asia.

PANews July 16 news, according to the latest analysis by Matrixport, Ethereum has risen 18% in the past month, with 17 percentage points of the increase occurring during Asian trading hours, highlighting the significant influence of the Asian market on the price discovery of crypto assets. Meanwhile, Bitcoin and Ethereum have risen 8% and 19% respectively in the past week, attracting widespread attention from the US media. The US market is ushering in "Crypto Week," with major stablecoin-related legislation expected to pass, bolstering the narrative of the US becoming a global crypto asset hub. The growth of the US market is mainly attributed to capital inflows into ETFs, corporate financial activities, and the IPO of Circle. However, compared to the relatively stable capital flows in the US market, the volatility and momentum of Ethereum are clearly driven by the Asian market.