#ate ETH 10th Anniversary Investment Zone#   Ethereum on the rise: Analysts say ETH resembles '90s tech stocks.

Ether surged 56%, its best monthly return in three years, and one analyst likened it to "tech stocks from the '90s" thanks to recent strong ETF inflows.

ETH is currently trading at $3,862, significantly higher than its July 1st opening of $2,468.

The data shows that this is the first time Ether has delivered a 50% or greater monthly return in a single month since its 56.62% surge in July 2022.

Eric Balchunas attributed ETH's recent price performance to net inflows into spot Ether exchange-traded funds (ETFs).

"As ETFs are on fire, Ether is starting to resemble the tech stocks of the '90s," Balchunas wrote in a post.

He also compared Ether to "emerging tech stocks of the '90s" in terms of its accelerating adoption and network growth, noting that this differs from Bitcoin's "new gold" narrative.

Ether ETF inflows continue for 19 consecutive days

Spot Ether ETFs have hit a 19-day streak of net inflows this month, the longest such streak in history.

Between July 3rd and 30th, funds in this category saw over $5.37 billion in inflows. The highest net inflow across all funds was recorded on July 16th, with approximately $727 million.

Last week, the Ethereum ETF became the third-fastest ETF to reach the $10 billion threshold, achieving this feat in just 251 days.

Meanwhile, in a rare move, net inflows into Ether ETFs in July surpassed net inflows into Bitcoin ETFs for six consecutive days.

Ethereum activity lags, analyst warns

While the price of ETH has risen, not everyone is happy with the level of activity occurring at the protocol level.

“When we look at the actual revenue generated on the Ethereum network, it's quite low,” said Markus Thielen, adding that Ethereum revenue hasn't increased significantly in the last six months.

According to Thielen, network activity increased by only 5 percent last month, and revenues increased by only 3 percent. He also observed that 90 percent of last month's price movements were driven by the Asian time zone.

He recalled November 2021. At that time, he said, Ethereum generated $1.5 billion in revenue in a single month, against a market capitalization of $300 billion. This represents a 6 percent annualized return and could be attractive to institutional investors.

However, the story is quite different now. According to Token Terminal, Ethereum's market capitalization is $466 billion, while its annual revenue is only $764 million.
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