In a stunning turn of events, Ethereum has eclipsed Bitcoin in weekly spot trading volume for the first time since June 2024, signaling a major shift in the cryptocurrency market dynamics. With ETH hitting $25.7 billion in volume compared to BTC’s $24.4 billion, investors are taking notice of the second-largest blockchain’s growing dominance.
The numbers don’t lie: Ethereum has outperformed Bitcoin by a staggering 72% since April, as the ETH/BTC price ratio surged from 0.018 to 0.031—a level not seen since January. This remarkable rally has been fueled by heightened accumulation from both institutional and retail investors, coupled with waning sell pressure on Ethereum.
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But it’s not just Ethereum that’s stealing the spotlight. Altcoins across the board are experiencing a resurgence, with total spot trading volume hitting $67 billion on July 17—the highest since March. This broader rotation into non-Bitcoin assets hints at a growing appetite for diversification and potential high-growth opportunities in the altcoin space.
Institutional players are also jumping on the Ethereum bandwagon, as evidenced by U.S.-based ETF data. The ETH/BTC ETF Holding Ratio has more than doubled from 0.05 to 0.12, indicating substantial fund inflows into ETH-focused products. This institutional endorsement further cements Ethereum’s position as a formidable contender in the digital asset arena.
The flippening in spot trading volume marks a historic moment for Ethereum, as it consistently outpaces Bitcoin for the first time in over a year. This shift underscores the growing confidence and momentum behind ETH and altcoins among large-scale investors and traders. As the crypto landscape continues to evolve, one thing is clear: Ethereum is no longer content with playing second fiddle to Bitcoin.
