TL;DR
- Ethereum recorded over $110 billion in derivatives trading volume within 24 hours, surpassing Bitcoin’s $84.7 billion.
- Strong inflows into newly launched spot ETFs in the U.S. and renewed interest in DeFi continue to drive Ethereum’s momentum.
- Ether’s price reached $2,793.60 with a 2.05% increase in the last 24 hours, pushing its total market capitalization to $337.25 billion.
Ethereum’s activity in the derivatives market has exceeded that of Bitcoin by a notable margin, marking a shift in investor preference. According to Coinglass, daily ETH derivatives volume jumped 38%, hitting $110 billion. This surge coincided with the asset’s price increase to $2,793.60, its highest level since February. Ethereum is no longer just an alternative; it has become foundational infrastructure for much of the crypto ecosystem. Its increasing use across financial, creative, and institutional sectors only reinforces that.
Boost from ETFs and Decentralized Finance
The momentum behind Ethereum is largely fueled by the consistent inflow into U.S.-based spot Ethereum ETFs. These funds accumulated nearly $890 million in net inflows over 16 consecutive days up to Monday, based on data from SoSoValue. This reflects more than just interest; it signals tangible institutional confidence in ETH as a reliable financial asset.
In parallel, the renewed activity across Ethereum-led DeFi and NFT platforms is providing further momentum. DeFi Llama reports that the total value locked in decentralized protocols has surged to $118.8 billion, up 32% since April. OpenSea, the leading NFT marketplace, also recorded its highest number of monthly active users since 2023, following the launch of its revamped OS2 platform. The Ethereum ecosystem continues to showcase an unmatched capacity to evolve and innovate even in uncertain market conditions.
Regulatory Support and Bullish Outlook
Recent developments from regulatory authorities have also boosted market sentiment. SEC Chairman Paul Atkins emphasized the importance of the right to self-custody as a core American value that must extend into the digital realm, a message that was officially shared on the SEC’s X account.
Ethereum’s recent Pectra upgrade has also been credited with strengthening momentum by improving scalability and reducing developer costs, reinforcing the network’s technological foundation. Analysts believe that if staking-enabled ETFs receive approval later this year, ETH’s price could climb to a range between $5,500 and $6,700 by December.
If this trajectory holds and Ethereum continues to build on both its technical and financial strengths, projections place ETH within the $10,000 to $20,000 range by the end of the decade.
