ether trading volume - Ethereum Records $17.9B in Spot Volume Despite 3% Drop
Ethereum ($ETH) continues to command robust trading volume despite a recent 3% drop over the last 24 hours and the current bearish pressure.
The current market condition has not been especially favorable to Ethereum, the second-largest cryptocurrency. As one of the leading crypto assets, $ETHhas been at the forefront of the ongoing selloffs. Consequently, the token has dropped 10.33% this month, struggling to retain the $3,000 threshold.

This month’s price collapse follows an 8.62% close to June, which saw Ethereum give up the $3,700 and $3,500 psychological territories. Ethereum’s downturnis a product of its price correlation with Bitcoin (BTC), which has dropped 8.61% in July. IntoTheBlock data shows Ethereum has a 93% correlation with Bitcoin over the last month.

Ethereum Sees Increased Volume
Interestingly, despite the ongoing drop, market interest in Ethereum has not declined. Market data sourced by CoinMarketCap indicates that Ethereum’s 24-hour trading volumehas not dropped below $10 billion this month. The lowest figure $ETHhas witnessed is $10.85 billion, recorded on July 7 during a 4.43% price dump.
Ethereum Historical Performance | CoinMarketCapThe latest data shows that Ethereum sees a $17.927 billion volume over the last 24 hours despite a 3.09% drop. This makes it the third-largest asset by 24-hour volume, only behind Bitcoin and USDT. Two of Binance’s Ethereum trading pairs command 14.54% of the global volume, boasting a combined $2.605 billion.
Ethereum 24H Volume | CoinMarketCapFurther, IntoTheBlock confirms that large Ethereum transactions have been on the high side, with a 7-day peak of $8.62 billion on July 5. The increase in trade volume reflects sustained interest in Ethereum.
$ETHLarge Transactions | IntoTheBlockHowever, data on volume alone cannot provide insights into investor behavior in terms of bullish or bearish sentiments.
A Trend of Excess Whale Demand
Typically, increased trading volume during a steep market collapse is a sign of growing selling pressure. However, Ethereum’s price has recorded some stability in recent times, hedging off subsequent declines. This confirms that the rise in trade volume is not necessarily a direct result of increased selloffs.
Data showsthat bulls have bought over 6.065 million $ETH($18.62 million) in July. In contrast, bears have sold 5.815 million $ETHworth $17.9 million within the same timeframe. This indicates that the Ethereum market has seen an excess demand of 250K $ETHfrom large whales this month.
Ethereumcould leverage this increased demand for a recovery move when the broader market recovers. However, to reach greater heights, it must first conquer the resistance at $3,079, aligned with Fibonacci 23.6%. A breach of this level would help $ETHreclaim the $3,200 level, with the next roadblock at $3,251.
$ETHDaily ChartThis detailed match analysis covers key moments, player performances, and tactical insights.
?? Key Statistics
Possession: 55% - 45%
Shots on target: 6 - 3
Pass accuracy: 88% - 82%
Corners: 5 - 2
?? Player Ratings
- Home MVP: John Doe (9.2)
- Away MVP: James Smith (8.7)
??? Post-Match Analysis
The manager praised the team's resilience after coming from behind. "We showed great character," he said.
This win moves them to the top of the league table with 45 points.
Final whistle analysis: The tactical shift in the second half proved decisive.