Ethereum’s growing influence in the crypto market isn’t due to increased trading but rather a drop in altcoin activity. A CryptoQuant analysis by CryptoOnchain reveals that Ethereum’s market share on Binance has risen as other assets’ trading volumes have plummeted.
From November 2024 to May 2025, altcoin trading volume fell dramatically. It dropped from 1.57 quadrillion to just 387 trillion. This decline has boosted Ethereum’s market share. ETH’s trading volume stayed between 300 trillion and 490 trillion from January 2023 to May 2025.Investors are moving away from smaller projects. This shift has strengthened Ethereum’s position.
Ethereum’s appeal in cautious market conditions is due to it’s maturity, network stability, and consistent activity.Currently, ETH trades at $2,257, down 10% due to Middle East tensions. however, whale activity has increased, showing a “buy-the-dip” trend. On June 22, Lookonchain noted a wallet buying 9,400 ETH worth $39 million.
Ethereum’s network activity has also surged. Over 500,000 ETH was added in june, with 35 million ETH now staked. Monthly transactions hit a new high of 24.69 million, driven by demand in decentralized finance and non-fungible tokens. EIP-1559 fee burns have removed over 4.57 million ETH from circulation.
Ethereum-based exchange-traded funds have seen steady inflows, with BlackRock leading the $849 million that entered ETH ETFs last month. Analysts predict a breakout to $2,800 soon, with $5,000–$8,000 targets in 2025 if conditions stabilize.
