Ethereum has eclipsed Bitcoin in the derivatives market, recording over $109 billion in daily trading volume—outpacing Bitcoin’s $77 billion—amid rising investor enthusiasm fueled by spot ETF inflows and a resurgence in DeFi activity.
Data from Coinglass shows a 38% spike in Ether derivatives volume within 24 hours, suggesting growing institutional demand and heightened speculative momentum. Ethereum’s price followed suit, climbing 4% to $2,790—the highest level since February—according to The Block’s market data.
Analysts argue this marks the beginning of a structural shift.
“This is structural growth, not hype,” said BTC Markets analyst Rachael Lucas. “Ethereum is fast becoming foundational to the digital asset economy, driven by clear use cases and institutional acceptance.”
Much of the activity is tied to U.S.-listed spot Ether ETFs. According to SoSoValue, these funds have seen 16 consecutive days of net inflows, accumulating nearly $890 million in capital. This consistent inflow is reinforcing bullish sentiment, particularly as ETH solidifies its role as both a growth asset and an essential infrastructure layer in DeFi.
While Bitcoin still leads in market capitalization, Ethereum’s utility and ETF-fueled momentum are beginning to shift dynamics in the derivatives landscape.
DeFi and NFT Growth Bolster Ethereum’s Momentum
Ethereum’s surge in derivatives is being driven not just by ETF inflows, but also by renewed strength across its DeFi and NFT ecosystems—two foundational sectors seeing a marked revival.
According to DeFi Llama, the total value locked (TVL) across Ethereum-based DeFi protocols has jumped to $118.8 billion, a 32% increase since April. This resurgence in liquidity indicates that confidence is returning to decentralized financial platforms.
Simultaneously, NFT activity on Ethereum is gaining traction. OpenSea—the chain’s largest NFT marketplace—has recently logged its highest monthly user count since 2023, spurred by the launch of its upgraded platform, OS2.
Paul Howard, Senior Director at Wincent, credited regulatory clarity as a key catalyst.
“Positive sentiment from the SECGov’s official X account on DeFi has helped lift the market, and hence why we see Ethereum ($ETH) outperforming its position for a number of years,” he said.
Howard was referencing remarks by SEC Chairman Paul Atkins, who reaffirmed that the right to self-custody should extend to digital assets—helping shore up investor confidence.
Ethereum’s growth has also been powered by recent technical improvements. The Pectra upgrade, rolled out earlier this year, enhanced scalability and transaction speed—longstanding bottlenecks that had hindered adoption. These upgrades are making Ethereum more attractive for developers and large-scale capital deployment.
Analysts Predict $6.7K ETH by 2025, $20K by 2030
With strong technical indicators and deepening institutional interest, analysts believe Ethereum’s current rally could be just the beginning of a broader breakout.
BTC Markets’ Rachael Lucas points to short-term bullish momentum, with ETH finding solid support at $2,800 and facing resistance around $3,600. She suggests that the approval of staking-enabled Ether ETFs could push prices to between $5,500 and $6,700 by year’s end.
Lucas also remains confident in Ethereum’s longer-term potential, citing its deflationary mechanics through EIP-1559, rising institutional adoption, expanding Layer 2 ecosystems, and entrenched dominance in DeFi.
These underlying fundamentals, she argues, support projections that Ethereum could reach $10,000–$20,000 by 2030 if current trends continue.
Quick Facts
- Ethereum derivatives surpassed Bitcoin in daily trading volume, reaching $110 billion versus BTC’s $84.7 billion.
- Ether ETFs in the U.S. have logged 16 straight days of net inflows, totaling nearly $890 million.
- DeFi protocols on Ethereum now hold $118.8 billion in TVL—up 32% since April.
- OpenSea recorded its highest user activity since 2023, following its OS2 upgrade.
- Analysts see ETH hitting $6,700 by end of 2025 and up to $20,000 by 2030.
