Ethereum Trading Volume Surge
Ethereum Tops Crypto Trading Volumes As Broader Cryptocurrency Market Moves Higher
Anonymous
Key Points
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Ethereum recorded approximately $15.84 billion in exchange trading volume during the 24-hour period, and its price was about 0.03220145 BTC per ETH.
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Ethereum is a proof-of-stake cryptocurrency launched on July 30, 2015, with a total supply of approximately 122.06 million coins.
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Lido Staked ETH generated about $15.32 million in trading volume over 24 hours and had a market capitalization of $23.62 billion.
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Ethena Staked USDe had a total supply of 1,053,647,851 tokens and recorded approximately $6.34 million in 24-hour exchange volume.
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TomoChain’s 24-hour trading volume was approximately $159,450; the token had a total supply of 210 million and a circulating supply of 128,132,280 coins.
Ethereum dominated cryptocurrency trading on September 17, recording $15.84 billion in 24-hour exchange volume as the broader crypto market bounced back from political and monetary setbacks. The second-largest cryptocurrency surged 3.6% to $2,474.73, boosting its market cap to roughly $302 billion, according to CoinMarketCap.
The rally extended beyond Ethereum. Uniswap jumped nearly 20%, while NEAR Protocol climbed about 18% after launching confidential trading features. The rebound came after the Federal Reserve raised interest rates and Congress stalled the CLARITY Act, but market uncertainty cleared quickly as traders repriced assets around the new policy baseline.
Fed Rate Hike Clears Air for Crypto Comeback
On September 16, the Federal Reserve raised rates by 25 basis points to 3.75%-4.00%. A day earlier, Congress failed to pass the CLARITY Act, a pro-crypto bill, after falling short of 60 votes. Rather than spark a prolonged selloff, these twin shocks resolved quickly. CoinMarketCap researcher Alice Liu noted the market had already priced in central bank moves. 'The more important question now is how higher funding costs affect positioning,' she said.
Ethereum Leads as Altcoins Stage Short Squeeze
Ethereum's $15.84 billion in daily trading volume nearly doubled its closest competitors. The surge reflected both genuine buying and a sharp short squeeze. According to CoinMarketCap derivatives data, traders holding bearish bets on Uniswap saw roughly $800,000 in positions liquidated within hours, amplifying the rally.
Lido Staked ETH, a key Ethereum derivative, added $15.32 million in volume while Ethena Staked USDe recorded $6.34 million. Smaller tokens like TomoChain gained 3.3% but remained down 22.8% over the week, showing gains concentrated in larger-cap assets.
Regulatory Green Light Fuels Decentralized Finance Pivot
The SEC granted conditional exemptions for tokenized stock liquidity pools on September 17. Meanwhile, NEAR Protocol launched confidential perpetual futures through Hyperliquid the same day. 'This is moving beyond a niche use case toward the foundation of on-chain finance,' said Alex Shevchenko of NEAR Intents about confidential trading capabilities.
These developments signaled regulators were warming to crypto infrastructure. Tom DeMark, founder of DeMark Analytics, noted that Ethereum's technical setup pointed to a 'renewal of the upside move' after months of consolidation, suggesting institutional players were positioning for continued gains.
Ethereum's On-Chain Usage Hits Record Highs
Ethereum's base layer set an all-time usage record in Q2, clearing over 203.9 million trades and averaging 25.9 transactions per second, according to data reported via Wu Blockchain. The network's growing throughput has attracted institutional treasury operations.
Ethereum's exchange reserves fell to 14.92 million ETH—the lowest level in 2026—signaling strong holder conviction. At current prices, that represents over $36 billion in ETH held outside trading platforms, historically a bullish signal for sustained price momentum.
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