Summary
- In August, Ethereum spot trading volume was about $480 billion, surpassing Bitcoin spot trading volume for the first time in seven years.
- U.S. Ethereum spot ETF recorded a net inflow of $3.95 billion, while the Bitcoin spot ETF had a net outflow of $310 million.
- Compared to the beginning of this year, Ethereum price has surged more than 105%%, while Bitcoin price rose about 18%% over the same period.
Last month, Ethereum (ETH) spot trading volume exceeded Bitcoin (BTC) spot trading volume for the first time in seven years.
On the 4th (local time), The Block reported that in August, Ethereum spot trading volume on centralized exchanges (CEX) was about $480 billion. It was about $80 billion more than Bitcoin's spot trading volume ($401 billion). The Block said, "It's the first time in seven years that Ethereum's spot trading volume has surpassed Bitcoin's."
ETF fund flows diverged. U.S. Ethereum spot ETFs recorded net inflows of $3.95 billion last month. Meanwhile, U.S. Bitcoin spot ETFs saw net outflows of $310 million last month. The Block said, "Ethereum's price has surged more than 105% since the beginning of the year, but Bitcoin's price rose about 18% over the same period."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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