Ethereum's Unlikely Rally: Can ETH Maintain its Momentum in August?

Ethereum (ETH) defied market expectations by posting its best month in over a year, surging by approximately 20% to reach a local peak.

This rally was particularly noteworthy given that July is historically not a strong month for Ethereum, with the altcoin typically experiencing low gains or even losses.

However, this time around, ETH bucked the trend, rebounding from its early slumber when it dipped towards $1,500 and rocketing to $1,980 at one point before being rejected.

The token ended July at around $1,900, outperforming Bitcoin (BTC) which gained a more modest 9% during the same period.