ETH Vs. BTC: Ethereum Volume Growth Runs 7x Bitcoin's

Fundstrat Tom Lee said in a recent interview that the crypto 4-year cycle may be weak from the bottom and that he is bullish on Ethereum because AI is set to transform financial services

• Ethereum's spot volume jumped over 49% in comparison to 7% for Bitcoin.
• Ethereum's open interest rose 1%, while Bitcoin's open interest fell over 3%.
• Analyst Ted Pillows said on X that Ethereum was now eyeing $3,000 if it closes above the $2,550 level.

Ethereum’s (ETH) spot volume jumped nearly 50% over the past 24 hours, seven times the 7% increase in Bitcoin (BTC) spot volume, as Ethereum extended its outperformance over the largest cryptocurrency.

According to Glassnode data, spot volume for Ethereum stood at $6.14 billion in comparison to Bitcoin spot volume at $6.53 billion in the last 24 hours. However, Ethereum's spot volume increased over 49%, whereas Bitcoin spot volume increased only 7% during the same time frame. 

Derivatives data pointed the same way. Open interest in Ethereum rose 1% to $27.1 billion while Bitcoin's fell 3.9% to $43.8 billion, indicating traders added exposure to one and cut it in the other.

ETH VS. BTC

Bitcoin's price was trading around $77,300, while Ethereum's price was near $2,532 as of writing. On Stocktwits, retail sentiment around Ethereum remained in the ‘bearish’ zone, with ‘normal’ chatter levels over the past day. In contrast, retail sentiment around Bitcoin dropped to ‘extremely bearish’ from the bearish zone, accompanied by ‘low’ chatter levels over the past day.