Ethereum’s July Surge Defies Summer Slump, but August Remains Uncertain — What's your perspective?

Ethereum rallied ~20% in July, beating Bitcoin’s 9% rise. On‑chain inflows, reduced gas fees, and a bullish sentiment drove the move. Historical Augusts show mixed outcomes, with 2017’s 93% jump contrasting with later pullbacks. Watch liquidity, staking withdrawals, and macro risk as ETH heads into August. My on‑chain lens suggests cautious optimism. What are your thoughts on this protocol shift and its market implications?