Ethereum’s Bullish Momentum Continues as Institutional Inflows Surge

Ethereum (ETH) has surged to $3,764.99, marking a 0.57% increase, as institutional interest in cryptocurrency grows. The bullish momentum is driven by significant inflows into BlackRock's iShares Ethereum ETF, which recorded $180.27 million in a single day—one of the largest accumulations since the launch of ETH ETFs. Despite extreme overbought conditions, with Ethereum's Relative Strength Index (RSI) reaching 87.50, the rally shows no signs of slowing down. Such high RSI levels typically indicate potential corrections, but regulatory progress and increasing institutional demand may provide a cushion against sharp declines. This development underscores the growing confidence of Wall Street in Ethereum's long-term potential, further solidifying its position as a leading digital asset in the crypto market.

Ethereum Surges to $3,764 as Institutional Inflows Drive Momentum

Ether climbed 0.57% to $3,764.99, extending its bullish momentum as Wall Street's appetite for crypto exposure grows. BlackRock's iShares ethereum ETF recorded $180.27 million in inflows—one of the largest single-day accumulations since ETH ETFs launched.

The rally comes amid extreme overbought conditions, with Ethereum's RSI hitting 87.50. Such levels typically precede corrections, though regulatory progress may cushion any pullback. The U.S. House passed the GENIUS Act on July 17, providing clarity on stablecoins and expanding the CFTC's crypto oversight—a long-awaited development for institutional investors.

Defense in Roman Storm Trial Hints at Mistrial Over Tornado Cash Tracing Failure

Roman Storm's legal team raised the possibility of a mistrial on July 21 after FBI investigators failed to conclusively LINK stolen assets from the prosecution's first witness to the Tornado Cash cryptocurrency mixer. The defense argues that without verifiable on-chain evidence, testimony about funds passing through the privacy tool risks prejudicing the jury.

During proceedings, journalists observed Storm's attorneys conferring about potential mistrial motions after an FBI agent could not trace funds from victim Katie Lin through Tornado Cash. Lin had previously testified about losing her life savings to a pig-butchering scam allegedly laundered through the mixer co-created by Storm.

Prosecutors maintain a second tracing expert will address the transfer pathway later in the trial, though the format of this testimony remains unclear. The evidentiary challenge comes as independent research questions the government's technical assertions about Tornado Cash's functionality.

Robinhood CEO Defends Tokenized OpenAI Stock Despite Controversy

Robinhood CEO Vlad Tenev has doubled down on the company's tokenized stock initiative, calling it a "big milestone" despite backlash from OpenAI. The unauthorized tokens, issued on Ethereum's Arbitrum network, tracked private company valuations without granting equity or voting rights—a move OpenAI swiftly condemned.

Tenev framed the controversy as an inevitable byproduct of innovation. The European airdrop highlights Robinhood's aggressive push into crypto-native financial products, even as regulatory gray areas persist. Tokenization of real-world assets continues gaining traction, with traditional finance and crypto increasingly colliding.

Tornado Cash Developer's Legal Team Considers Mistrial Motion Amid Prosecution Gaps

Roman Storm's defense attorneys signaled potential legal turbulence in the Tornado Cash trial, suggesting they may seek a mistrial over perceived deficiencies in the U.S. government's case. The prosecution's failure to conclusively link the Ethereum mixing service to specific cybercrimes has created what defense counsel characterizes as critical evidentiary gaps.

Federal prosecutors countered that their argument against Storm—co-founder of the privacy-focused protocol that obscures transaction trails on Ethereum's blockchain—would crystallize in coming days. The development follows testimony from Hanfeng Lin, who claimed $250,000 losses in a cryptocurrency scheme, though the direct connection to Storm's platform remains contested.

Over $3.4 Billion in Ethereum Permanently Lost Due to Errors and Bugs

More than 913,111 ETH, valued at approximately $3.43 billion, has been irretrievably lost due to user mistakes and smart contract vulnerabilities. This represents over 0.76% of Ethereum's circulating supply, according to Coinbase director Conor Grogan.

The losses stem from high-profile incidents, including a 306,000 ETH loss by the Web3 Foundation from a Parity multisig wallet flaw and 60,000 ETH lost by defunct exchange QuadrigaCX. NFT project Akutars accidentally burned 11,500 ETH during a failed minting process, while users sent 25,000 ETH directly to burn addresses.

Grogan notes these figures are conservative, excluding potential losses from misplaced private keys or dormant Genesis wallets. The total impact grows significantly when considering ETH permanently removed via EIP-1559's burn mechanism.

Arthur Hayes Foresees $10K ETH Rally as Market Confidence Grows

Ethereum's price surged past $3.8K amid heavy accumulation, with 317,000 ETH (worth $1.18B) withdrawn from exchanges in a clear bullish signal. A single whale purchased $50M of ETH at $3,714, underscoring institutional conviction. Despite failing to breach the critical $4K resistance, ETH has gained 24.5% weekly—now consolidating NEAR $3.8K.

Arthur Hayes' viral "$ETH = $10,000" tweet on July 10 ignited market speculation. His subsequent call for a $5K ETH by July 25 could catalyze a breakout. The $4K level remains pivotal: a successful breach may propel ETH toward unprecedented highs, while rejection risks a retracement to $3.1K.