Ether (ETH) outperformed bitcoin and the CD20 index on Tuesday in Asia as inflows into ETH exchange-traded funds (ETFs) reversed their previous outflow trends. Additionally, many decentralized exchange (DEX) tokens experienced positive growth, with some of the largest protocols showing promising trends in fee generation.
According to data from SoSoValue, there was a daily net inflow of $4.93 million into U.S.-listed spot ether ETFs on Monday. Grayscale’s two funds did not see any flows, while Fidelity’s FETH received $3.98 million in inflow, Franklin Templeton’s EZET saw $1 million in inflow, and Bitwise’s ETHW had $2.86 million in positive flow. VanEck’s ETHV was the only one with an outflow, at $2.92 million.
Bitcoin ETFs, on the other hand, had a collective daily inflow of $27.87 million. Grayscale’s GBTC experienced an outflow of $11.7 million, and Bitwise’s BITB saw an outflow of $17 million.
During the East Asia business day, bitcoin was trading above $59,200, up 1.25% according to CoinDesk data. However, many of the largest DEX tokens performed well, contributing to ETH’s outperformance. Uniswap’s UNI rose by 3.8%, DYDX by 5.5%, and Gnosis’s GNO by 5.3%.
In terms of fees, Ethereum generated $40.46 million in the first half of August, while Uniswap fees reached $23.64 million during the same period. These numbers indicate a potential surpassing of July’s $47.4 million in fees, and even a challenge to June’s total fees of $54 million.
Finally, Canto saw one of the largest token gains, rising by 41% according to CoinGecko data. However, the blockchain has been experiencing a delay, with the last transaction being processed 16 hours ago according to data from block explorer Cantoscan. The team had promised a fix for Monday but it seems to have not been implemented yet, as reported earlier by CoinDesk.