After more than a year, ETH's weekly spot trading volume surpasses BTC's trading volume for the first time
On July 24, the cryptocurrency data analysis platform CryptoQuant published an analysis on its social media X, indicating that an important metric shows a change in market capital flow.
Data shows that last week, the spot trading volume of ETH reached 25.7 billion USD, while the spot trading volume of BTC was 24.4 billion USD, marking the first time the ETH/BTC spot trading volume weekly ratio has surpassed 1.
This is also the first time since June 2024 that Ethereum (ETH)'s weekly spot trading volume has exceeded Bitcoin (BTC)'s weekly trading volume.
In summary, CryptoQuant's analysis suggests that investors are shifting funds from Bitcoin to Ethereum and various altcoins.
Overall, this phenomenon revealed by CryptoQuant may not only reflect investors' growing interest in the Ethereum ecosystem (such as DeFi, NFT, Layer 2), but more profoundly, it may reflect a broader adjustment in overall market risk appetite.
However, whether this shift in capital flow indicates that the market focus is gradually shifting from the relatively singular 'BTC narrative' to a broader 'crypto ecosystem narrative' remains to be seen.
At the same time, whether Ethereum can maintain this leading momentum and the potential impact of this capital flow on Bitcoin itself and the overall cryptocurrency market landscape will undoubtedly be the focus of market attention in the coming period.
What do you think about the phenomenon of ETH's weekly trading volume surpassing BTC? Do you believe that investors are turning to ETH and altcoins because they see unique ecological value or simply because Bitcoin prices are too high? Leave your thoughts and predictions in the comments section!
