Matrixport released daily chart analysis, stating that the recent altcoin market was driven by the Asian market, with Ethereum (ETH) and Ripple (XRP) performing well. Ethereum continued to strengthen under multiple potential catalysts, with market sentiment remaining positive even as network gas fees remained low. Currently, ETH's funding rate has risen to double digits, coupled with continuous inflows of futures positions and ETF funds, the market heat is gradually increasing, although the overall level is still in a moderate range.

Last week, we analyzed the performance of Ethereum in various global trading sessions, and since then, the influence of the Asian market has become more significant, driving the strong rise of ETH over the weekend. However, this round of market trends is not only driven by speculative funds and institutional allocations, but also by the resurgence of DeFi activity, which has become an important driving force for the rise of Ethereum.