ETH Spot Trading Volume Soars Following ETF Approval

IconCryptoNewsTerminal Staff28 May, 2024

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ETH Spot Trading Volume Soars Following ETF Approval

The approval of an ETH spot ETF has significantly boosted ETH spot trading volume, according to The Block. ETH, which had been trailing behind other cryptocurrencies like SOL, has reportedly experienced a resurgence in trading activity. Its 7-day moving average trading volume has reached $29 billion, the highest since May 2021. This surge in trading volume suggests that the ETH spot ETF approval has been a major catalyst for increased interest in ETH among traders and investors.