Ethereum surpassed Bitcoin in trading volume thanks to ETFs and DeFi: 110 billion dollars a day

Ethereum derivatives outperformed Bitcoin in trading volume, reaching 110 billion dollars a day amid a capital influx into American ETFs and a revival of the DeFi sector.

The trading volume of Ethereum derivatives in the last 24 hours increased by 38% to over 110 billion dollars, exceeding Bitcoin's 84.72 billion dollars, according to Coinglass data. The cryptocurrency itself rose by 4% to 2827 dollars, marking the highest level since February of this year.

Analysts note several key factors contributing to Ethereum's growth. Spot ETFs on Ethereum in the U.S. have shown a steady influx of funds — 16 consecutive days of positive flows leading up to Monday. During this period, funds attracted nearly 890 million dollars, according to SoSoValue data.