Ethereum reaches all-time high volume of $38B as Eric Trump voices bullish sentiment

Ethereum reached a file $38 billion in each day spot buying and selling quantity, whereas Bitcoin logged its third-highest quantity at $49 billion, in response to David Lawant, Head of Analysis at FalconX.

Unsurprising however for the file:

ETH hits an all-time excessive spot quantity of $38b yesterday, whereas BTC notches its third-highest at $49b pic.twitter.com/KiL8H9VPE6

— David Lawant (@dlawant) February 4, 2025

The surge in buying and selling exercise coincided with a risky value motion for Ethereum, which dropped to an intraday low of $2,152 earlier than recovering to $2,919.

Eric Trump, son of the present US president, expressed optimism about Ethereum on social media, stating, “For my part, it’s a good time so as to add $ETH. You possibly can thank me later.”

On this context, the amount spike for each main crypto property aligns with broader market dynamics.

Whereas Ethereum set a brand new all-time excessive in spot buying and selling quantity, Bitcoin’s exercise remained beneath its historic peak.

The chart, monitoring trusted spot change volumes from 2017 to February 2025, highlights these actions.

Ethereum’s current surge stands out because it surpasses its earlier data, reflecting heightened curiosity from traders and merchants.

Bitcoin’s quantity, though substantial, stayed inside acquainted ranges, suggesting regular demand fairly than a significant breakout occasion.

This divergence emphasizes Ethereum’s rising function out there as a spotlight of speculative exercise in periods of elevated volatility.

In November, Ethereum’s onchain quantity soared to $7.1 billion amid a market uptick, the very best in 2024, fueled by vital ETF inflows and a US electoral final result.

Yesterdays Eric Trump’s constructive bull-post on Ethereum coincided with World Liberty Finance transferring vital ETH quantities to Coinbase.

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