Ethereum Trading Activity Booms, Reaching Highest Monthly Volume
CryptoNewsTerminal Staff21 May, 2024
Ethereum Trading Activity Booms, Reaching Highest Monthly Volume
Ethereum's trading volume has surged in January, reaching its highest point this month at $88 billion on the 20th. This surge is attributed to increased activity by large-volume traders, known as whales, amidst growing expectations of a physical delivery Ethereum ETF. Lucas Outumuro, Head of Research at IntoTheBlock, a crypto market data analytics platform, highlighted the trend on Twitter. He noted that the prospect of a physical ETF, which would allow investors to gain exposure to the underlying asset, has fueled excitement among whales. Should a physical ETF be approved, analysts predict that the current trend of high trading volume is likely to intensify further. This development would be a significant boost for the Ethereum ecosystem and could attract a broader range of investors.
