Why Ethereum Pulled Crypto Higher Today

Big buyers, also known as whales, are increasing their positions in Ethereum. The biggest 1% of Ethereum holders have increased their positions after "The Merge" was tentatively scheduled for September. The move doesn't seem to be driven by any real fundamental change in the crypto market, but broadly there is good news for the industry overall. A move that happens that fast can fade quickly, and we have seen some of the pop fade. Regulatory certainty could actually help the industry long term, and if there's an end to the bankruptcies and liquidation of lenders it could be good news to crypto markets overall. The blockchain is a unique ledger for data and developers who can leverage that capability could open new opportunities for innovators. This innovation will help cryptocurrencies, Source