For the first time in cryptocurrency history, Ethereum has surpassed Bitcoin in daily derivatives trading volume: over the past 24 hours, ETH derivatives volume exceeded $111 billion, while BTC’s was $87.5 billion. This is driven by growing institutional interest in Ethereum, strong inflows into spot ETH ETFs in the US (16 consecutive days of positive flows and nearly $890 million accumulated), renewed activity in the DeFi sector, and a price increase of ETH to $2,794 (up 5% in the past day).
Liquidations on ETH derivatives reached $131 million—more than double that of Bitcoin—indicating a surge in leveraged trading. Large investors are also actively withdrawing ETH from exchanges.
Analysts believe this is not a coincidence, but a sign of Ethereum’s structural growth and its increasing role in the digital economy. If the trend continues, ETH’s dominance in the derivatives market could mark a new phase for the entire industry.