Ethereum’s Trading Volumes Reaches Over $75M as Institutional Demand Increases

The daily trading volume of Ethereum has reached over $75 million —almost doubling its previous amount, $40 million. The increase comes just a week after Ethereum Futures were launched on the Chicago Mercantile Exchange.

According to data from Glassnode, the open interest for Ethereum has increased at least $62 million as well. The institutional demand for Ethereum is also increasing, as corporations are exploring the world’s second-highest market cap crypto.

Likewise, the number of addresses in the Ethereum blockchain is more active than ever, with over 450K wallets with funds of almost $2,000 in ETH interacting with the network.

ETH 2.0 Staking Rewards Are Here

The increase in activity and trading volume was also driven following Coinbase’s announcement, allowing users to earn rewards by staking ETH 2.0.

Accordingly, the waitlist is live now, and customers will earn at least 7.2 in yields, by simply holding ETH.

This month, Ethereum broke the 200 billion market cap —currently, 208,567,363,632— as it soared over 150% at the beginning of 2021. This reflects the number of whales moving millions of dollars in Ethereum and XRP, as Bitcoin reached $50,000.