Arab Chain
Ethereum’s spot trading volume across exchanges reached $375 billion in November, and ETF trading volume reached approximately $35 billion
Ethereum's real-time trading volume data across all platforms reveals a particularly significant phase in the market's trajectory during 2025. Ethereum experienced wide fluctuations in its monthly activity, with trading volume initially falling to around $280–$380 billion before experiencing a strong surge mid-year, culminating in a peak of over $599 billion in August. Following this sharp rise, activity eased slightly but remained relatively high at around $375 billion by the end of November, a level that reflects continued market participation despite prevailing price pressures. This surge in trading volume directly reflects increased market liquidity and traders' engagement with the rapid ups and downs Ethereum experienced throughout the year. Macroeconomic conditions also contributed to the heightened trading activity, particularly with changes in futures markets, the actions of large traders, and rising institutional demand through regulated investment products. In this context, data shows that Ethereum’s trading volume on Binance alone reached approximately $198 billion during November, confirming the platform’s dominance over real-time liquidity flows and its ability to directly influence price movements. This dominance highlights the reliance of traders both institutional and individual on Binance as a primary venue for executing high-volume transactions. On the other hand, Ethereum exchange-traded funds (ETFs) played a significant role in boosting institutional activity, with trading volume reaching nearly $35 billion. This figure clearly indicates increased participation from traditional investors, adding an additional layer of organized liquidity to the market.