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July 2024 painted a complex picture for Ethereum with price crashes, strong Layer 2 activity, and more.While its DeFi ecosystem flourished with innovation, the broader market grappled with headwinds.This report delves into the key events that shaped Ethereum’s trajectory in July and explores the road ahead. Founded in 2013 by Vitalik Buterin, Ethereum serves as a distributed blockchain computing platform designed for the execution of smart contracts and decentralized applications (DApps). The network enables users to create and innovate extensively with smart contracts, catalyzing the emergence of various assets and industries such as decentralized finance (DeFi),non-fungible tokens (NFTs), decentralized autonomous organizations (DAOs), Web3 and beyond. At its core, Ethereum features an execution engine tailored for smart contract processing, known as the Ethereum Virtual Machine (EVM). In addition, Ethereum employs a proof-of-stake(PoS) consensus mechanism, which enhances its scalability and sustainability
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