Ether sails past BTC's daily volume as Grayscale ETH Trust trades at 11% premium
Roughly $60 billion worth of ETH changed hands over the past 24 hours while BTC saw $50 billion in trade. Ethereum is seeing renewed interest in the aftermath of Bitcoin's travails this week, with Ether’s 24-hour trade volume topping BTC’s by a significant margin.
However it's still a long way from doubling Bitcoin's volume as some ETH proponents suggested. On May 25, a screenshot of CoinGecko data circulated across Crypto Twitter showing the daily volume of Ether had surpassed $115 billion while Bitcoin’s sat at nearly $53 billion.
Speaking to Cointelegraph, CoinGecko’s 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.
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’s $50.2 billion. 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:
“In 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.”
The surging trade activity and interest has also coincided with institutional fund manager Grayscale’s Ethereum Trust (ETHE) seeing its premium over spot Ether prices bounce up to 11%. while the firm’s Bitcoin Trust has traded at a discount since March. The data suggests that some institutions have turned their focus to Ethereum rather than Bitcoin.
Ethereum’s volume surged to overtake Bitcoin just days after segments of a leaked report from Goldman Sachs revealed the global investment bank believes Ether has a “high chance of overtaking Bitcoin as a dominant store of value.” The report noted the growth of the burgeoning decentralized finance and nonfungible token ecosystems being built on Ethereum, as well as ETH’s dominance over Bitcoin by total transaction volume.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 59.2% | 81 | $16 978.70 | 4.39% | 2.88% | $326 335 954 931 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 61.2% | 79 | $1 272.58 | 7.65% | 9.73% | $155 730 706 390 |  |
|
| 3 |  USDT |
Tether predictions | 94.4% | 1 | $0.999717 | 0.01% | 0.07% | $65 344 160 805 |  |
|
| 4 |  BNB |
Binance Coin predictions | 69.6% | 65 | $303.20 | 2.45% | 11.12% | $48 502 460 386 |  |
|
| 5 |  USDC |
USD Coin predictions | 95.6% | 1 | $1.000139 | -0.01% | -0.03% | $43 277 644 672 |  |
|
| 6 |  BUSD |
Binance USD predictions | 94.8% | 1 | $1.000531 | -0.02% | -0.04% | $22 382 168 682 |  |
|
| 7 |  XRP |
XRP predictions | 68.4% | 66 | $0.404716 | 4.85% | 7.75% | $20 353 202 189 |  |
|
| 8 |  DOGE |
Dogecoin predictions | 59.6% | 85 | $0.107996 | 6.28% | 33.79% | $14 327 928 052 |  |
|
| 9 |  ADA |
Cardano predictions | 62% | 81 | $0.317149 | 3.18% | 0.58% | $10 922 533 679 |  |
|
| 10 |  STETH |
Lido stETH predictions | 93.2% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 11 |  MATIC |
Polygon predictions | 64.8% | 72 | $0.870461 | 4.66% | 0.89% | $7 602 885 646 |  |
|
| 12 |  DOT |
Polkadot predictions | 66% | 67 | $5.45 | 5.72% | 1.92% | $6 217 714 859 |  |
|
| 13 |  LTC |
Litecoin predictions | 63.2% | 74 | $78.90 | 4.47% | 1.74% | $5 659 018 434 |  |
|
| 14 |  DAI |
Dai predictions | 96% | 1 | $0.999966 | 0.01% | -0.06% | $5 641 163 245 |  |
|
| 15 |  WTRX |
Wrapped TRON predictions | 67.2% | 66 | $0.054055 | 1.60% | 6.42% | $5 496 066 891 |  |
