{"id":25544,"date":"2025-07-24T10:39:19","date_gmt":"2025-07-24T07:39:19","guid":{"rendered":"https:\/\/forklog.com\/en\/ethereum-trading-volume-surpasses-bitcoins\/"},"modified":"2025-07-24T10:39:19","modified_gmt":"2025-07-24T07:39:19","slug":"ethereum-trading-volume-surpasses-bitcoins","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ethereum-trading-volume-surpasses-bitcoins\/","title":{"rendered":"Ethereum trading volume surpasses Bitcoin\u2019s"},"content":{"rendered":"<p>For the first time in a prolonged period, trading turnover in the second-largest cryptocurrency has exceeded that of digital gold, analysts at CryptoQuant said.<\/p>\n<p><!--more--><\/p>\n<p><script async src=\"https:\/\/telegram.org\/js\/telegram-widget.js?22\" data-telegram-post=\"cryptoquant_official\/3106\" data-width=\"100%\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe spot ETH\/BTC ratio crossed 1 for the first time since June 2024,\u201d the researchers emphasised.<\/p>\n<\/blockquote>\n<p>Over the past 24 hours, Ethereum has fallen by roughly 3% against bitcoin. The rally stalled after a sustained push toward $4000. At the time of writing, ether\u2019s volume-weighted average price is around $3566.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"313\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/CoinGecko-44-1024x313.png\" alt=\"CoinGecko\" class=\"wp-image-262550\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/CoinGecko-44-1024x313.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/CoinGecko-44-300x92.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/CoinGecko-44-768x235.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/CoinGecko-44.png 1245w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Top five cryptoassets by market capitalisation. Source: <a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>.\u00a0<\/figcaption><\/figure>\n<p>Santiment analysts, however, are confident the uptrend will resume.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udcca Ethereum&#8217;s price ratio vs. Bitcoin has fallen -5.8% in the past 60 hours. A major FOMO-driven <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a> trading volume spike, just like we saw in the beginning of May, ended up foreshadowing a local top. If trading &#038; social volume fall the rest of the week, this would be a strong\u2026 <a href=\"https:\/\/t.co\/8plhJsxJKe\">pic.twitter.com\/8plhJsxJKe<\/a><\/p>\n<p>\u2014 Santiment (@santimentfeed) <a href=\"https:\/\/twitter.com\/santimentfeed\/status\/1948156978632773832?ref_src=twsrc%5Etfw\">July 23, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe Ethereum rate versus bitcoin has declined by ~5.8% over the past 60 hours. A <span data-descr=\"Fear of Missing Out, fear of missed opportunities\" class=\"old_tooltip\">FOMO<\/span>-driven spike in ETH trading volumes, similar to the surge at the beginning of May, preceded a local top. If trading and social activity continue to fall through the rest of the week, this could signal a new wave higher amid retail profit-taking,\u201d they explained.<\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">Drivers of the correction<\/h2>\n<p>Presto Research analyst Min Jeong <a href=\"https:\/\/www.theblock.co\/post\/364068\/ether-xrp-fall-amid-broader-market-correction\">believes<\/a> the market pullback came without an obvious trigger \u2014 more akin to profit-taking:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cIt looks more like a pause or profit-taking, especially considering that Ethereum is still up 7% on the week and Dogecoin 12%.\u201d<\/p>\n<\/blockquote>\n<p>CoinW chief strategy officer Nassar Al-Achkar voiced a similar view:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe sharp price pullback is tied to temporary profit-taking after the recent rally, amplified by liquidations of leveraged positions and rotation out of altcoins amid anticipation of ETF decisions.\u201d<\/p>\n<\/blockquote>\n<p>Kronos Research investment director Vincent Liu said the correction is largely driven by \u201ca cascade of liquidations [highly leveraged longs] and thinning liquidity\u201d.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"341\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/liq-4-1024x341.png\" alt=\"liq\" class=\"wp-image-262561\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/liq-4-1024x341.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/liq-4-300x100.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/liq-4-768x256.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/liq-4.png 1382w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Within the past 24 hours\u2019 liquidation mix, Ethereum longs dominate by a wide margin. Source: <a href=\"https:\/\/www.coinglass.com\/LiquidationData\">CoinGlass<\/a>.<\/figcaption><\/figure>\n<p>Altcoins remain under pressure amid waning retail interest. Traders are focused on geopolitical risks, inflows into institution-oriented ETFs and key technical support levels, said LVRG Research director Nick Rak.<\/p>\n<p>In Min Jeong\u2019s view, the broader picture remains broadly stable:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cCryptocurrencies continue to see demand from corporate treasuries. Traders are closely watching upcoming reports from major technology companies and macroeconomic signals.\u201d<\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">Two weeks of inflows into Ethereum ETFs<\/h2>\n<p>Net inflows into spot ether exchange-traded funds have continued for 14 straight days. The chart, however, shows volumes have tapered over roughly the past seven trading days:<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"310\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/inflows_ETH-1024x310.png\" alt=\"inflows_ETH\" class=\"wp-image-262571\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/inflows_ETH-1024x310.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/inflows_ETH-300x91.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/inflows_ETH-768x233.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/inflows_ETH-1536x465.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/inflows_ETH.png 1754w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">ETH-ETF inflow dynamics. Source: <a href=\"https:\/\/sosovalue.com\/assets\/etf\/Total_Crypto_ETH_ETF_Fund_Flow?page=usETH\">SoSoValue<\/a>.<\/figcaption><\/figure>\n<p>On July 23, net inflows came to $332 million. The flagship BlackRock fund ETHA accounted for about $325 million.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"385\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Net_inflow-1024x385.png\" alt=\"Net_inflow\" class=\"wp-image-262572\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Net_inflow-1024x385.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Net_inflow-300x113.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Net_inflow-768x289.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Net_inflow-1536x578.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/Net_inflow.png 1710w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Spot Ethereum-ETF statistics. Source: <a href=\"https:\/\/sosovalue.com\/assets\/etf\/us-eth-spot?tid=soso-sm-cnmedia-Wu_news\">SoSoValue<\/a>.\u00a0<\/figcaption><\/figure>\n<p>Cumulative net inflows since the products launched <a href=\"https:\/\/forklog.com\/en\/news\/spot-ethereum-etf-launch-date-announced\">in July last year<\/a> have reached $8.65 billion. Funds hold $8.65 billion in assets \u2014 4.57% of Ethereum\u2019s total supply. Notably, spot bitcoin ETFs have seen outflows for a third straight day \u2014 in the past 24 hours alone investors <a href=\"https:\/\/sosovalue.com\/assets\/etf\/us-btc-spot\">withdrew $86 million<\/a>.<\/p>\n<h2 class=\"wp-block-heading\">Is ether in vogue?<\/h2>\n<p>Meanwhile, corporations continue to add to reserves \u2014 the total Ethereum on balance sheets has exceeded 2 million ETH.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"407\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/ETH-Reserve-1024x407.png\" alt=\"ETH Reserve\" class=\"wp-image-262580\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/ETH-Reserve-1024x407.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/ETH-Reserve-300x119.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/ETH-Reserve-768x306.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/ETH-Reserve-1536x611.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/ETH-Reserve.png 1664w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Ethereum reserve statistics. Source: <a href=\"https:\/\/www.strategicethreserve.xyz\/\">Strategic ETH Reserve<\/a>.<\/figcaption><\/figure>\n<p>The most active on this front are:<\/p>\n<ul class=\"wp-block-list\">\n<li>SharpLink Gaming \u2014 +91.43% over the past 30 days;<\/li>\n<li>Bitmine Immersion Nech \u2014 +84.29%;<\/li>\n<li>Bit Digital \u2014 +335.53%;<\/li>\n<li>BTCS Inc. \u2014 +282.11%.<\/li>\n<\/ul>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/P_L.webp\" alt=\"P_L\" class=\"wp-image-262584\"\/><figcaption class=\"wp-element-caption\">Current value of Ethereum holdings and acquisition costs. Source: <a href=\"https:\/\/www.coingecko.com\/research\/publications\/public-companies-ethereum-price\">CoinGecko<\/a>.<\/figcaption><\/figure>\n<p>Sixty-one companies follow this strategy, holding 1.69% of the <a href=\"https:\/\/www.coingecko.com\/en\/coins\/ethereum\">total supply<\/a> of the second-largest cryptocurrency.<\/p>\n<p>Earlier, a CryptoQuant analyst known as Crypto Dan <a href=\"https:\/\/forklog.com\/en\/news\/analyst-questions-ethereums-overheating-concerns\">predicted a short-term correction<\/a>, but doubted a longer-term trend change in Ethereum\u2019s price.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>For the first time in a prolonged period, trading turnover in the second-largest cryptocurrency has exceeded that of digital gold, analysts at CryptoQuant said.<\/p>\n","protected":false},"author":1,"featured_media":25543,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[46,958],"class_list":["post-25544","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ethereum","tag-trading-volume"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/25544","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=25544"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/25544\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/25543"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=25544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=25544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=25544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}