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- Ethereum became the most-traded asset on Coinbase for the first time since 2022, surpassing Bitcoin in daily volume.
- ETF inflows are rising, and the upcoming Pectra upgrade could boost Ethereum’s price and network performance.
On Monday, Ethereum surpassed Bitcoin to become the most traded asset on Coinbase, followed by a significant transformation in market trades. According to director Conor Grogan, the trading volumes on Coinbase show Ethereum surpassing Bitcoin for the first time since 2022. The crypto’s trading volume reached $367 million throughout the previous 24 hours, surpassing the trading amounts observed for Solana (SOL) and XRP.
Ethereum is the top traded asset on Coinbase for the first time in a really long time- maybe since 2022? pic.twitter.com/KarLXhsftk
— Conor (@jconorgrogan) February 18, 2025
Market Trends Indicate Renewed Interest in Ethereum
Recent trading numbers point to increasing Ethereum market appeal even though it has trailed Bitcoin’s performance this year. The analytics provider Santiment shows that Ethereum holders move their digital assets from trading platforms to cold wallets at the highest levels since Ethereum’s establishment. Since Ethereum launched, the ETH exchange supply has reached its most minimal point, at 6.38% of the total network supply available.
Exchange supply declines create positive expectations because this action decreases the amount of available assets for sellers to withdraw. Numerous investors decided to buy ETH as they predicted increasing prices, which demonstrates their optimism about its enduring value.
Ethereum’s market performance has strengthened due to increased investments flowing into spot Ethereum ETFs based in the United States. These funds received nearly $400 million during this month, which demonstrates a rising interest level from institutional investors for this asset.
Many analysts predict that Ethereum will experience increased market momentum before Pectra launches in the soon-to-follow period. The network update titled Pectra is scheduled for early April and has as its main goal to boost efficiency through accelerated transaction speed and other technical advances. The market will closely observe whether this upgrade will initiate a price increase.
ETH Faces Challenges in Closing the Gap with BTC
The current surge in trading activity has not prevented Ethereum from declining by over 20% throughout the year. Crypto faces criticism because it operates slower than Bitcoin, yet members of its community have examined various solutions to boost market performance.
Present market conditions point toward rising investor interest, yet future forecasts for Ethereum remain unclear. ETH’s ability to regain strength against Bitcoin and other competing assets needs the upcoming upgrade, together with institutional investment, to succeed.
The future position of Ethereum as Coinbase’s top-traded asset will depend on how the market develops in the coming weeks. Future network improvements and sustained ETF inflows have subscribers watching to determine if ETH can keep its present rise intact.
