Ethereum is drawing intense speculative attention, surpassing Bitcoin in futures trading volume for the first time in months.
According to data from Glassnode, ETH futures hit $104.2 billion in 24-hour volume, far ahead of BTC’s $67.5 billion—a rare flip that signals rising market interest in the second-largest cryptocurrency.
While Bitcoin still leads in overall futures open interest at $64.2 billion versus Ethereum’s $32.2 billion, Ethereum’s open interest grew 6.1% in a day, while Bitcoin’s dipped 1.4%. The surge in ETH trading comes alongside historic inflows into spot Ethereum ETFs and a strong price rally.
Despite the jump in volume and open interest, Ethereum’s funding rate remains relatively neutral at 0.0096%, slightly below Bitcoin’s 0.01%. This suggests that while capital is flowing in, traders aren’t yet overly bullish or entering overheated territory.
Glassnode interprets the data as a positive signal: speculative demand is building, positions are rising, and sentiment remains grounded—setting the stage for potential upside without immediate risk of overheating.
Alexander Zdravkov
Reporter at Coindoo
Alexander Zdravkov is a person who always looks for the logic behind things. He is fluent in German and has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.