Odaily Planet Daily News IntoTheBlock released the Q2 market report, the main points are as follows: 1. Network fees: Bitcoin fees increased by 60.8%, and Ethereum fees decreased by 62.8%; 2. Net flow of exchanges: CEX Bitcoin net inflow reached US$150 million (Q1 outflow of US$3.5 billion); ETH outflow of US$3.4 billion (Q1 outflow of US$4 billion); 3. Bitcoin and Ethereum fell by 12.8% and 3.1% respectively; 4. Bitcoin miners sold reserves at the fastest rate in more than a year: Since June, miners have sold more than 30,000 bitcoins (about US$2 billion), and the Bitcoin network computing power fell by about 15% last month; 5. 78% of ETH is held by long-term holders (Hodlers), and nearly four-fifths of ETH holders have held it for more than a year; 6. The number of L2 transactions increased by 4 times: in the top three L2 networks (Arbitrum, Base and The number of transactions occurring on Ethereum’s L2 Optimism has quadrupled in a year. Overall, the impact of Ethereum’s growing demand has permeated to L2, which will benefit the network in the long term, but will have a smaller impact on ETH assets in the short term. The upcoming Ethereum spot ETF may have a more substantial impact on ETH. Since ETH supply is highly concentrated in the hands of long-term participants, if the inflow of Ethereum ETF is comparable to that of Bitcoin ETF, it may have a huge impact.