Ethereum Taker Buy Volume Surges to $2.55 Billion in an Hour, Third-Highest in Six Months

Aggressive buying in Ethereum’s derivatives market surged, sending hourly taker buy volume to its third-highest level in about six months, according to a CryptoQuant analysis.

CryptoQuant contributor MorenoDV wrote on Aug. 19 that Ethereum taker buy volume across all exchanges climbed to $2.55 billion in a single hour.

Taker buy volume measures the value of buy orders filled immediately, including market orders, in the perpetual futures market. The metric shows how aggressively buyers are absorbing sell orders already available in the market. A sharp jump typically signals stronger short-term buying pressure.

The latest reading was the third-largest hourly taker buy volume in the past 193 days, behind $3.69 billion on Feb. 7 and $2.67 billion on March 23.

"Buyers have suddenly started showing a willingness to pay a premium again," MorenoDV wrote, adding that the scale has been rarely seen over the past six months.

He added that more confirmation is needed to determine whether the move was driven by fresh long positions or by short covering as rising prices triggered short liquidations. Both scenarios generate market buy orders, making them difficult to distinguish using taker buy volume alone.

Open interest, or OI, and Ethereum’s price action will be the main indicators to watch next. If strong taker buying continues while OI rises and Ether holds above the breakout zone, that would signal fresh long positions entering the market. If OI falls alongside large liquidations, the surge would more likely reflect temporary buying tied to short covering rather than new capital entering the market.

MorenoDV said the indicator does not confirm further gains for Ethereum. Continued aggressive buying could mark an early sign of broader market participation. But if the flow is absorbed by sell orders and prices fail to hold their gains, short-term buying pressure could fade.