Ethereum (ETH) has overtaken Bitcoin (BTC) in perpetual futures trading volume for the first time since 2022, signaling increased investor interest in Ethereum and the altcoin market. According to Glassnode, this marks the largest recorded shift of speculative capital from Bitcoin to altcoins, with Ethereum attracting $1.59 billion in fresh inflows and year-to-date inflows reaching $7.79 billion. Additionally, Ethereum ETFs have seen $1.9 billion in inflows, maintaining a 15-week streak of positive momentum. BitMine Immersion has announced a $1 billion stock repurchase program, underscoring confidence in Ethereum's long-term value. As of July 28, BitMine holds 625,000 ETH and 192 BTC, with Ethereum trading around $3,847 after a 56% gain in the past month.