Lucía Peña
Ethereum (ETH) has officially surpassed Bitcoin (BTC) in spot trading volume, a milestone not seen in over seven years. Since early August, ETH has maintained its lead, signaling a clear shift in investor preferences.
Traditionally, Bitcoin has dominated market liquidity, but with BTC hovering near record highs, many traders are rotating into altcoins. Ethereum has become the main beneficiary of this rotation, capturing growing market attention.
From early August through September 9, Ethereum accounted for 32.9% of total spot volume, slightly edging out Bitcoin’s 32.6%, according to CryptoRank. The trend strengthened further on September 10, when ETH recorded $48 billion in spot trading volume, compared to $43 billion for BTC.
This marks the first time in seven years that Ethereum has overtaken Bitcoin in this metric — a strong indication of shifting dynamics in the crypto market.
ETF Flows Tell a Different Story for ETH and BTC
The shift in spot trading comes alongside a divergence in spot ETF flows. According to VanEck, Ethereum ETFs attracted $4 billion in inflows in August, while Bitcoin ETFs saw significant outflows.
Analysts suggest this divergence stems from a growing investor appetite for risk. With Bitcoin near all-time highs and speculation building that the Federal Reserve may cut interest rates, traders are increasingly willing to take bigger bets on altcoins like Ethereum.
Critical Price Levels for Ethereum
Currently, Ethereum trades above $4,200, testing a key resistance zone between $4,400 and $4,500. Breaking above this range could push ETH toward the $5,000 milestone, while failure to hold support could send it back below $4,000.
The outcome of this battle will be closely watched by both retail and institutional investors, as Ethereum continues to cement its position as the leading altcoin in the market.
