Ethereum Trading Volume Overtakes Bitcoin

A major shift is underway in crypto markets as Ethereum begins to outpace Bitcoin in both price performance and trading activity.

According to new data from CryptoQuant, ETH’s spot trading volume surpassed Bitcoin’s for the first time since June 2024, signaling renewed investor appetite for altcoins and accelerating signs of a potential new “altcoin season.”

ETH Outperforms BTC as Volume, Demand Spike

Ethereum’s weekly spot trading volume hit $25.7 billion, topping Bitcoin’s $24.4 billion. This marks the first time in over a year that ETH has consistently led in spot trading activity. The ETH/BTC trading volume ratio also rose above 1.0, a significant technical milestone last seen in mid-2024.

Since bottoming out in April, ETH has outperformed Bitcoin by 72%, with the ETH/BTC price ratio rising from 0.018 to 0.031—the highest since January. Analysts link this momentum to Ethereum’s undervaluation phase, now reversing as accumulation grows and sell pressure fades.

Altcoin and ETF Data Confirm Rotation Trend

Altcoin interest isn’t limited to Ethereum. Total spot trading volume for altcoins surged to $67 billion on July 17, the highest since March. Meanwhile, U.S.-based ETF data shows Ethereum allocations gaining ground against Bitcoin. The ETH/BTC ETF Holding Ratio climbed from 0.05 to 0.12, indicating institutional investors are buying ETH in larger quantities.

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This momentum is further supported by exchange inflow data. Significantly less ETH is being deposited on exchanges compared to BTC, suggesting lower selling pressure and potential for continued outperformance.

Outlook: ETH/BTC Gains Could Extend

With rising institutional inflows, spiking spot volumes, and a favorable on-chain profile, Ethereum appears to be regaining market dominance. If this rotation trend holds, ETH/BTC could continue climbing—pushing more capital toward Ethereum and broader altcoin markets in the coming weeks.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.