Ethereum Overtakes Bitcoin in 24-Hour Futures Volume as Market Activity Surges

• Ethereum recorded $62.1B in 24h futures volume, overtaking Bitcoin’s $61.7B during vigorous derivatives activity.
• ETH futures open interest climbed to $40.90B, rising steadily from under $15B in early 2024.
• Ethereum price rose 7.81% to $3,003.67, outperforming Bitcoin’s 6.17% gain at $118,017.70. 

Ethereum has surpassed Bitcoin in 24-hour futures trading volume, recording $62.1 billion compared to Bitcoin’s $61.7 billion. This shift, confirmed via a post on X by Lucky, reflects a surge in Ethereum derivatives activity, marking a rare instance where ETH futures have led the market.

Ethereum Futures See Strong Participation

Ethereum’s futures volume accounted for 66.95% of its market cap. Open interest stood at $26 billion, with an OI/Market Cap ratio of 0.076. The data shows elevated trading engagement from leveraged participants. ETH’s price also increased 6.8% within the same period. Liquidations reached $82.4 million, indicating substantial position changes. As of press time, Coinglass updated data indicates that Ethereum futures open interest reached $40.90 billion.

This increase follows a steady rise since early 2024, with open interest staying below $15 billion until March. From April onward, the figure accelerated, surpassing $30 billion by June. The growth continued into July without visible decline.  

Bitcoin Maintains Higher Open Interest

Bitcoin recorded a higher open interest at $57.6 billion, representing 87.89% of its market cap. The OI/MCap ratio was 0.026. Bitcoin’s price rose 2.5% during the same timeframe. The funding rate was slightly positive at 0.0004%, and liquidations totaled $108.1 million. A deeper analysis of this, as per Coinglass data, indicates that Bitcoin futures open interest rose steadily from late 2023 through mid-2025, reaching $81.36 billion on July 11. 

BTC Open Interest shows a significant rise starting in February 2024, followed by consistent growth into April and June. Earlier, from May 2023 to early 2024, open interest stayed mostly below $20 billion. A sharp spike occurred in June 2025, where levels broke past $60 billion. Open interest climbed further into July 2025, nearing a new all-time high. BTC price followed a similar pattern, trending higher as open interest increased.

Bitcoin/ Ethereum Price Performance Revealed

Tracking the ongoing price trend, a comparative chart between the two digital assets indicates that Ethereum trades at $3,008.23, posting a 7.8% daily gain. The 24-hour trading volume reached $37.6 billion, reflecting a 31% increase. Bitcoin also moved upward, reaching $118,190.70 with a 6.17% gain. 

ETH’s market cap rose to $365 billion, matching its fully diluted valuation. The circulating supply remained steady at 120.71 million ETH. Trading activity increased throughout the day, pushing price growth into the early morning hours. Ethereum outperformed Bitcoin in both percentage gain and price acceleration during this period. Total volume for both assets reached $37.1 billion at the measured timestamp.