Ethereum News Today: Ethereum Spot Volume Surpasses Bitcoin's for First Time Since June 2024 on 26% Price Surge

Ethereum’s spot trading volume has exceeded Bitcoin’s for the first time in nearly a year, signaling a notable shift in market dynamics. From July 14 to 20, Ethereum’s trading volume reached $25.7 billion, surpassing Bitcoin’s $24.4 billion during the same period [1]. This marks the first instance since June 2024 where Ethereum’s trading volume outpaced Bitcoin’s, driven by a 26% price surge in Ethereum compared to a 1.55% decline in Bitcoin [1]. The ETH/BTC volume ratio climbed above 1 in early July, reflecting sustained upward momentum in Ethereum’s relative performance [2].

The divergence in investor behavior is further highlighted by contrasting ETF flows. Ethereum ETFs saw inflows of $2.18 billion between July 14 and 18, with an additional $1.39 billion in new capital from July 21 onward. A single day alone recorded $231.2 million in Ethereum ETF inflows, contrasting sharply with Bitcoin ETFs, which faced $285 million in redemptions from July 21 to 23 [1]. This reallocation of capital aligns with broader institutional interest in Ethereum-based products, as evidenced by the ETH/BTC ETF Holding Ratio more than doubling from 0.05 to 0.12 [2].

On-chain data also supports Ethereum’s growing dominance. Centralized exchange reserves for Ethereum fell by 3.46% in a week, dropping to 19.32 million ETH from 20 million, suggesting a shift toward long-term holding strategies [1]. Meanwhile, Ethereum futures open interest hit a record $28 billion on July 22, though this was followed by $150 million in liquidations of long positions, indicating cautious sentiment among traders [1]. The Altcoin Season Index, which measures the health of the broader altcoin market, declined from 62 to 48, suggesting that while Ethereum is gaining traction, a full-scale altcoin rally remains uncertain [1].

Large investors, or “whales,” have accelerated Ethereum and altcoin accumulation, a trend historically linked to increased market participation [5]. Ethereum spot ETF inflows reached $332 million in recent weeks, further fueling the rotation out of Bitcoin [7]. Analysts attribute this shift to Ethereum’s technological upgrades and network activity, though they caution that regulatory risks and market volatility could dampen long-term adoption [2].

The broader crypto market saw peak spot trading volumes of $67 billion on July 17, the highest since March 2025 [3]. This surge coincided with reduced sell pressure on Ethereum, as evidenced by the ETH/BTC Exchange Inflow Ratio, which indicates Ethereum holders are prioritizing accumulation over selling [4]. However, Bitcoin’s dominance remains a key metric to monitor, as its market share could rebound if Ethereum’s gains prove unsustainable.

The shift underscores a maturing cryptocurrency market increasingly allocating capital to alternatives beyond Bitcoin. Investors are advised to track on-chain indicators such as the ETH/BTC volume ratio and Bitcoin dominance metrics to gauge future trends. For now, the data highlights a clear pivot: Ethereum’s ascent in trading volume signals growing confidence in its ecosystem, even as the broader market navigates cyclical dynamics.

Source:

[1] [Ethereum Surpasses Bitcoin in Spot Volume for First Time](https://www.ainvest.com/news/ethereum-news-today-ethereum-surpasses-bitcoin-spot-volume-time-year-driven-etf-inflows-altcoin-momentum-2507/)

[2] [Shift Happens: Signs of Investors Rotating to ETH and Altcoins](https://cryptoquant.com/insights/research/68810317b313d26da55890a6-23-July-2025-Shift-Happens-Signs-of-Investors-Rotating-to-ETH-and-Altcoins)

[3] [Altcoin Momentum Builds as Bitcoin Stabilises and Binance Dominates Trading Activity](https://www.cointribune.com/en/altcoin-momentum-builds-as-bitcoin-stabilises-and-binance-dominates-trading-activity/)

[4] [Ethereum Surpasses Bitcoin in Spot Volume for First Time](https://www.ainvest.com/news/ethereum-news-today-ethereum-surpasses-bitcoin-spot-volume-time-year-driven-etf-inflows-altcoin-momentum-2507/)

[5] [Ethereum Flips Bitcoin in Spot Volume as Whales Load Up](https://www.tradingview.com/news/cryptonews:723f85a4a094b:0-live-crypto-news-today-latest-updates-for-july-24-2025-ethereum-flips-bitcoin-in-spot-volume-as-whales-load-up-on-eth-amid-altcoin-rotation/)

[7] [Ethereum Spot ETF Inflows Hit $332M as Altcoin Rotation Surges](https://www.cryptoninjas.net/news/ethereum-spot-etf-inflows-hit-332m-as-altcoin-rotation-surges-flipping-bitcoin-volume)