Ethereum Rally Fuels Crypto Trading Volume to 8-Month Peak

A powerful shift in investor sentiment toward Ethereum was the key catalyst behind the crypto market’s trading surge in August.

Total exchange volume hit $1.86 trillion, its highest level since January, as traders repositioned their portfolios.

The narrative was clear: while Bitcoin saw outflows, US spot Ethereum ETFs attracted nearly $4 billion in new capital. This “Ethereum play” drove activity across the board.

Centralized exchanges like Binance, Bybit, and Bitget saw volumes swell, and the decentralized trading sector also benefited, with Uniswap processing $143 billion in volume as activity reached a yearly peak. The data underscores a month defined by a decisive rotation into the Ethereum ecosystem.