Ethereum Outpaces Bitcoin — Can the Rally Last?

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Ethereum’s August rally shows signs of pausing, but long-term growth drivers tell a different story.

For nearly two weeks, Ethereum has been confined within the $4,255-$4,500 range, in what appears to be a short-term stagnation marked by uncertainty and cautious trader sentiment.

But zooming out, experts suggest that the crypto asset’s overall upward trend remains clear.

Ether’s Multi-Front Surge Against Bitcoin

Since early August, ETH has overtaken Bitcoin in spot market dominance, capturing 32.9% of total share against BTC’s 32.6%. During the week of August 18-25, Ethereum’s share peaked at 41%, which coincided with the total ETH spot volume reaching $480 billion compared to Bitcoin’s $400 billion, according to the latest stats shared by CryptoRank.

Futures markets further validate this momentum, as ETH futures volume surpassed Bitcoin’s since mid-July and reached an all-time high of $3.08 trillion in August. Open interest currently stands at $59 billion, about 15% off its peak, showing some cooling but still reflecting substantial positioning.

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