Ethereum has taken a lot of attention in the previous months, as the network just recently finished one of its crucial updates in history by presenting EIP-1559 with the London Hard Fork. Thus, ETH’s price has been appreciating and records almost an 85% increase considering that it reached a low in July.
The update has actually been significant enough that some professionals think Ethereum has actually brought the bulls back to the market. Recently, crypto exchange Coinbase released its quarterly earnings report and provided information that might sustain that theory.
According to Coinbase, the platform records an overall of $462 billion in trading volume throughout Q2, 2021. Organizations dominated this metric with $317 billion versus $145 billion from retail investors. Professional John Street Capital suggested a 4.8% increase in institutional participation compared to Q1, 2021.
This is much more considerable when compared with the total portion trading volume for Bitcoin, Ethereum, and other crypto-assets. For the first time, the 2nd cryptocurrency by market cap handled to surpass BTC on this metric, as seen below.