{"id":259142,"date":"2021-05-26T08:31:34","date_gmt":"2021-05-26T05:31:34","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ether-sails-past-btcs-daily-volume-as-grayscale-eth-trust-trades-at-11-premium\/"},"modified":"2021-05-26T08:31:34","modified_gmt":"2021-05-26T05:31:34","slug":"ether-sails-past-btcs-daily-volume-as-grayscale-eth-trust-trades-at-11-premium","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ether-sails-past-btcs-daily-volume-as-grayscale-eth-trust-trades-at-11-premium\/","title":{"rendered":"# Ether sails past BTC\u2019s daily volume as Grayscale ETH Trust trades at 11% premium"},"content":{"rendered":"

“# Ether sails past BTC\u2019s daily volume as Grayscale ETH Trust trades at 11% premium <\/strong>”
\n<\/p>\n

Ethereum is seeing renewed interest in the aftermath of Bitcoin’s travails this week, with Ether\u2019s 24-hour trade volume topping BTC\u2019s by a significant margin.<\/p>\n

However it’s still a long way from doubling Bitcoin’s volume as some ETH proponents suggested. On May 25, a screenshot<\/a> of CoinGecko data circulated across Crypto Twitter<\/a> showing the daily volume of Ether had surpassed $115 billion while Bitcoin\u2019s sat at nearly $53 billion.<\/p>\n

Speaking to Cointelegraph, CoinGecko\u2019s co-founder and COO, Bobby Ong, revealed the data depicted in the screenshot was not accurate due to either an API error, or wash-trading, resulting in inflated ETH volumes reported by the EXX exchange. <\/p>\n

Ong stated that Coingecko has since disabled its data feed from EXX. The platform now shows Ether has driven 20% more volume than BTC over the past 24 hours with roughly $60 billion trade compared to Bitcoin\u2019s $50.2 billion. <\/p>\n

While CoinGecko’s Bitcoin page has seen about 75% more traffic than its Ethereum page over the past seven days, the gap has narrowed significantly in the past 24 hours. Ong noted:<\/p>\n

\u201cIn the past 24 hours, our Bitcoin page received about 60% more traffic compared to Ethereum. When it comes to search queries, Bitcoin received only about 7% more queries compared to Ethereum.\u201d<\/p><\/blockquote>\n

The surging trade activity and interest has also coincided with institutional fund manager Grayscale\u2019s Ethereum Trust (ETHE) seeing its premium over spot Ether prices bounce up to 11%. while the firm\u2019s Bitcoin Trust has traded at a discount since March. The data suggests that some institutions have turned their focus to Ethereum rather than Bitcoin.<\/p>\n

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This is what I mean, $ETH<\/a> both on spot exchanges and institutional (grayscale) is flippening $BTC<\/a> in volume <\/p>\n

macro Market structure on $ETH<\/a> is more bullish than BTC too<\/p>\n

Look at Goldman’s comments as well as other institutional investors, you can see where the money is flowing https:\/\/t.co\/v7vZoWNkSk<\/a><\/p>\n

\u2014 Pentoshi wont DM you (@Pentosh1) May 25, 2021<\/a><\/p><\/blockquote>\n