UPDATE: Ethereum’s trading activity has reached a staggering $375 billion in November, as a surge in spot trading and institutional interest from ETFs drives unprecedented market engagement. This latest data from CryptoQuant highlights the ongoing volatility and robust participation from both retail and institutional investors.
As of November, Ethereum’s trading volumes have shown a remarkable increase, peaking at over $599 billion in August before stabilizing. The month of November alone saw volumes fluctuating between $280 billion and $380 billion, reflecting strong investor interest despite market pressures.
Binance has emerged as the leading platform for Ethereum trading, dominating the market with approximately $198 billion in spot trading volume for November. This positions Binance at the forefront of liquidity flows, catering to institutional and retail traders alike.
The surge in trading volume is further bolstered by significant ETF activity, with Ethereum spot ETFs reporting around $35 billion in trading for the month. This influx indicates a growing engagement from traditional investors, adding a layer of organized liquidity that enhances Ethereum’s market dynamics.
Ethereum’s price is currently hovering just above $3,000, reflecting recovery efforts from major holders despite a 24% decline over the month. This price movement aligns with increased accumulation by large investors, signaling renewed confidence in Ethereum’s long-term potential.
Data from Alphractal reveals a notable shift in whale activity, with wallets holding between 10,000 and 100,000 ETH controlling a record of over 21 million ETH. Furthermore, entities with over 100,000 ETH have expanded their holdings to approximately 4.3 million ETH.
The current market landscape indicates that Ethereum is trading near its fair-value territory, with the Realized Price at $2,315 and an MVRV ratio of 1.27. This ratio suggests a balanced market structure, with no extreme overbought or oversold conditions present.
As trading continues, market participants should watch for how these developments will influence Ethereum’s future trajectory. The latest data signals a pivotal moment for Ethereum, with both retail and institutional interests playing a crucial role in shaping its market landscape.
Stay tuned for more updates as the Ethereum market continues to evolve.
