- Ethereum’s on-chain volume rebounded to $5.46B in four days, showing real activity returning across the network.
- ETH spot ETFs are now on a nine-week inflow streak, with $300M in capital stacking as institutions double down.
- Open interest hit $21.5B near $2.9K, confirming heavy trader positioning backed by conviction, not just hype.
Ethereum’s on-chain volume has surged to $5.46 billion within four days, marking a rapid return of network activity. At the same time, spot ETF inflows and open interest have climbed sharply, signaling rising capital commitment from institutional and leveraged players.
Volume Recovers With Sharp Demand Rebound
Ethereum’s network is seeing renewed transactional flow after a steep pickup in volume this week. According to a post by Ted Pillows, ETH’s on-chain volume hit $5.46 billion on July 11, reversing the steady decline seen through late June.
The data shows a clean V-shaped recovery, with volume bouncing from sub-$4 billion levels toward a near-term peak. Activity had dropped below $3 billion in April but trended upward in May, briefly topping $6 billion before turning volatile.
This latest breakout returns ETH to a strong position, with network usage reflecting greater trader participation. Demand has picked up across decentralized venues, where the volume curve is regaining bullish structure.
ETF Inflows Gain Pace With Nine-Week Streak
Ethereum’s US spot ETF inflows have now grown for nine consecutive weeks, with capital nearing $300 million. According to Merlijn the Trader, inflows turned positive in early May and have steadily increased without major reversals.
Each week brought stronger accumulation, with no disruptive pullbacks or pauses. The build-up tracked closely with price, which moved from under $2,200 to above $3,000 during the same period.
Recent inflows were the most aggressive yet, with the last three bars confirming exponential positioning. Institutional entries remain consistent and deliberate, showing longer-term conviction behind the move.
Open Interest Surges Near $3K as Traders Load Up
Ethereum’s open interest has exploded to $21.5 billion, the highest level since Q1 2022. In a post by Marc Shawn Brown, the move was described as a clear sign of “new money flooding into the market.”
The surge has occurred alongside price consolidation around $2,900, showing traders are aggressively positioning with high conviction. The red zone on the chart highlights sharp inflows, as speculative capital builds near key resistance.
This spike in open interest marks a significant change in behavior compared to earlier cycles. Price, ETF flows, and open interest are now aligned — momentum is not just strong, it’s backed by real capital deployment.
