🚀Odaily Planet Daily News! IntoTheBlock released the Q2 market report, Bitcoin🔥 is hot! Network fees increased by 60.8%, and CEX Bitcoin net inflows reached $150 million. Although Bitcoin and Ethereum fell by 12.8% and 3.1% respectively, Bitcoin miners sold reserves at the fastest rate in more than a year. Since June, miners have sold more than 30,000 Bitcoins (about $2 billion), and the Bitcoin network computing power fell by about 15% last month.

👀For Ethereum, although fees fell by 62.8% and ETH outflowed $3.4 billion, 78% of ETH was held by long-term holders (Hodlers), and nearly four-fifths of ETH holders held it for more than a year. The number of L2 transactions increased by 4 times, and the number of transactions on the top three L2 networks (Arbitrum, Base and Optimism) quadrupled in one year.

🔮Overall, the impact of the growth in Ethereum demand has penetrated into L2, which will be beneficial to the long-term development of the network, but will have little impact on ETH assets in the short term. The upcoming Ethereum spot ETF may have a greater substantial impact on ETH. Since the ETH supply is highly concentrated in the hands of long-term participants, if the inflow of the Ethereum ETF is comparable to that of the Bitcoin ETF, it may have a huge impact. Let us look forward to greater development of Bitcoin! 🎉