Ethereum Overtakes Bitcoin in Monthly Spot Trading Volume on CEXs
Ethereum has consistently led Bitcoin in spot trading volume since August, marking the first time in seven years that it has overtaken Bitcoin in this metric, with significant ETF inflows boosting its position.
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Fact Check
The statement is directly supported by evidence from The Defiant, which explicitly reports that 'Ethereum (ETH) has overtaken Bitcoin (BTC) in spot market trading volumes on major centralized exchanges (CEXs)'. While other provided sources establish Bitcoin's historical dominance or are not specific enough, they do not contradict the claim that this specific, more recent event occurred.
Summary
Since early August 2025, Ethereum has outpaced Bitcoin in spot trading volume, reaching $48 billion on September 10 compared to Bitcoin’s $43 billion. This shift coincided with Ethereum ETFs attracting $4 billion in inflows, while Bitcoin ETFs saw outflows. Ethereum’s rise is attributed to growing investor risk appetite as Bitcoin nears its record highs, with Ethereum now targeting the $4,400–$4,500 resistance zone.
Terms & Concepts
- Spot Trading Volume: The total value of cryptocurrency transactions settled immediately on an exchange, without leverage or derivatives.
- Ethereum ETFs: Exchange-traded funds that provide exposure to Ethereum, allowing investors to gain indirect access to the cryptocurrency.
- Resistance Zone: A price level where selling pressure is strong enough to prevent the price from rising further.