After more than a year, the weekly spot trading volume of ETH has surpassed that of BTC for the first time.

On July 24, the cryptocurrency data analysis platform CryptoQuant published an analysis on its social media X, indicating that an important indicator shows a change in the flow of market funds.

Data shows that last week the ETH spot trading volume reached 25.7 billion USD, while the BTC spot trading volume was 24.4 billion USD, which caused the ETH/BTC spot trading volume weekly ratio to break 1 for the first time.

This is also the first time since June 2024 that the weekly spot trading volume of Ethereum (ETH) has exceeded the weekly trading volume of Bitcoin (BTC).

In summary, CryptoQuant analysis suggests that investors are shifting funds from Bitcoin to Ethereum and various altcoins.

Overall, the phenomenon revealed by CryptoQuant may not only reflect the increasing interest of investors in the Ethereum ecosystem (such as DeFi, NFT, Layer 2) but, on a deeper level, it could indicate an adjustment in the overall risk appetite of the market.

However, whether this shift in the flow of funds signifies that the market focus is gradually moving from the relatively singular "BTC narrative" to a broader "crypto ecosystem narrative" is still worth our continued observation.

At the same time, whether Ethereum can maintain this leading momentum, and the potential impact of this capital flow on Bitcoin itself and the overall cryptocurrency market landscape, will undoubtedly be the focus of market attention in the coming period.

What do you think about the phenomenon of ETH's weekly volume surpassing BTC? Do you believe that investors are turning to ETH and altcoins because they see unique ecological value, or is it simply because the price of Bitcoin is too high? Leave your thoughts and predictions in the comments!

#ETH # Bitcoin #交易量 # altcoin