According to Odaily Planet Daily, IntoTheBlock released a Q2 market report, the main contents of which include: 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 $150 million (Q1 outflow of $3.5 billion); ETH outflow of $3.4 billion (Q1 outflow of $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 $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: The number of transactions on the top three L2 networks (Arbitrum, Base, and Optimism) has quadrupled in one year. Overall, the impact of the growth in Ethereum demand has penetrated into L2, which will benefit the long-term development of the network, but will have less 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.
