Ethereum's Derivatives Volume Surpasses Bitcoin's, Reaching $114 Billion
Rethinking the Crypto Order
In a shocking turn of events, Ethereum has been stealing the crypto spotlight, surpassing Bitcoin in another significant aspect. On June 11, Ethereum reported a whopping 24-hour derivatives trading volume of $114 billion, significantly outpacing Bitcoin's $80 billion.
This shift comes as Ethereum's spot market recently surpassed Bitcoin in spot ETF inflows, mainly due to increased institutional inflows. With Ethereum prices breaking new records, soaring over 54% since May 7, it's clear that ETH is on a roll.
According to Coinglass data, the 24-hour trading volume for Ethereum perpetuals reached an astounding $114.74 billion, with its total open interest (OI) hitting a record high of $41.67 billion. This spike indicates a surge in bets on Ethereum’s continued upward trajectory.
Traditionally, Bitcoin has ruled the crypto market in every aspect. However, Ethereum has been consistently outshining Bitcoin over the past few weeks. Despite the buzz surrounding Bitcoin, Ethereum has been making impressive strides this year. Its DeFi-focused ecosystem has matured significantly, still commanding a significant market share.
Ethereum's Price Soars
This surge in attention has led to a dramatic increase in Ethereum's price. Over the past month, ETH has broken through multiple barriers, establishing itself as one of the top-performing blue-chip crypto assets. At the time of writing, ETH is trading near $2,787, up 5.91% in the past 24 hours. Its daily trading volume has seen a boost of 28%, currently standing at $33.69 billion.
The next few months are critical for Ethereum as it gears up to challenge Bitcoin on multiple fronts. Analysts predict it could break above $3,000 by this month, with expectations of a new all-time high by the end of the year.
Here's what could be fueling Ethereum's surge:
- Increased Institutional Interest: Ethereum derivatives have seen a massive increase in trading volumes, exceeding $107 billion, surpassing Bitcoin's $78 billion during the same period. This surge is largely due to renewed institutional interest, reflecting the growing trust in Ethereum's ecosystem.
- DeFi Resurgence: Ethereum's improvement in the decentralized finance (DeFi) space is another significant factor. The resurgence of DeFi activities has heightened interest in Ethereum derivatives, as it is the primary platform for most DeFi applications.
- Sustained ETF Inflows: Spot Ethereum ETFs have experienced 16 consecutive days of net positive inflows, attracting over $890 million. This consistent investment is a strong indicator of institutional confidence in Ethereum.
- Regulatory Support: Regulatory developments and support have also played a role in boosting Ethereum ETFs. The expectation of potential future approvals for staking-enabled ETH ETFs could further enhance these inflows.
- Stablecoin Activity: The surge in stablecoin activity across Ethereum's ecosystem, with volumes surpassing $11 trillion in 2025, demonstrates the platform's utility and attractiveness for both retail and institutional investors.
Overall, Ethereum's strong performance is driven by a combination of institutional investment, regulatory optimism, DeFi growth, and increased stablecoin usage within its ecosystem. Stay tuned for more updates!
Also read: Hyperliquid Whale James Wynn Goes 40X Long on BTC, 10x Long on Pepe Coin
- The surge in Ethereum's price is largely driven by increased institutional interest, as the trading volumes for Ethereum derivatives exceeded $107 billion, surpassing Bitcoin's during the same period.
- The resurgence of DeFi activities and Ethereum's focus on DeFi-related applications have heightened interest in the cryptocurrency, with Ethereum being the primary platform for most DeFi applications.
- The consistent inflows into Ethereum ETFs, totaling over $890 million, indicate institutional confidence in Ethereum, which could potentially lead to further growth in the coming months.
