Ethereum Shatters On-Chain Records: $135B DEX Volume, 48M TXs, $240B TVL – What’s Driving It?
Ethereum has smashed a number of on-chain data in August 2025, exhibiting a resurgence of exercise throughout decentralized finance (DeFi) and institutional funding.
In keeping with on-chain information, the community recorded its strongest exercise since 2021, with decentralized trade (DEX) quantity climbing to $135 billion, whole transactions reaching 48 million, and energetic addresses hitting 15 million.
Whole worth locked (TVL) throughout Ethereum-based protocols surged to almost $240 billion, marking a brand new excessive in decentralized finance participation.
Ethereum’s whole transaction quantity rose to $320 billion in August 2025, the very best in 4 years, pushed by resurgent DeFi exercise, institutional inflows, and sharply diminished transaction charges.
Ethereum ETF Growth Pushes Holdings to $30B, 5.4% of Market Cap
The increase coincides with a surge in spot Ethereum ETF exercise in the US.
Bloomberg ETF analyst James Seyffart reported that Ether ETFs have absorbed practically $10 billion in inflows since July, bringing whole flows since launch to $13.6 billion.
August alone is predicted to shut with $4 billion in internet inflows, positioning it because the second-largest month on file for Ethereum funds. By comparability, Bitcoin ETFs have registered $622.5 million in internet outflows throughout the identical interval.
Each day ETF flows present this divergence. Between August 21 and 26, spot Ether ETFs attracted practically $2 billion, dwarfing Bitcoin’s $171 million in inflows.
On one of many busiest buying and selling days, August 26, Ethereum funds brought in $455 million in new capital, while Bitcoin ETFs managed just $81 million.
BlackRock’s iShares Ethereum Belief (ETHA) dominates the sector, with $17.2 billion in internet belongings, greater than half the market. Constancy’s FETH follows with $3.7 billion, whereas Bitwise’s ETHV has grown to $3.2 billion.
Data from SoSoValue shows U.S.-listed Ether ETFs now maintain $30.17 billion in belongings, equal to five.4% of Ether’s whole market capitalization.
The circulation shift has been stark compared with Bitcoin. Over the previous 5 buying and selling days, Ethereum ETFs attracted $1.83 billion in inflows, ten instances the $171 million absorbed by Bitcoin funds.
Analysts say this marks Ethereum’s strongest month-to-month outperformance towards Bitcoin since Ether ETFs launched in July 2024.
Ethereum Reserves Quadrupled Since April Amid ETF and Treasury Demand
Alongside ETFs, company treasuries are additionally fueling Ethereum’s provide squeeze. Knowledge from the Strategic ETH Reserve (SER) dashboard shows that entities and ETFs collectively now maintain 11.2 million ETH, equal to 9.3% of the circulating provide.
Of this, 6.78 million ETH sits in ETFs, whereas 4.44 million ETH is held by non-public companies and institutional reserves. The web provide change over the previous week has been unfavorable, with 669,500 ETH withdrawn from circulation, highlighting a tightening provide dynamic.
This focus has practically quadrupled since April, when reserves totaled round 3 million ETH.
The most important non-public accumulator is Bitmine Immersion Tech, which now holds 1.8 million ETH value $7.75 billion after increasing its place by practically 187% over the previous month.
SharpLink Gaming ranks second with 797,700 ETH, whereas The Ether Machine and the Ethereum Basis maintain 345,400 ETH and 231,600 ETH, respectively.
The info suggests non-public entities are matching the depth of ETF demand, accelerating Ethereum’s institutionalization.
This twin engine of ETF flows and treasury accumulation has translated into sturdy worth motion.
Historical past Exhibits Ethereum’s Inexperienced Augusts Result in Explosive This autumn Features
Ethereum’s efficiency in August has traditionally carried sturdy implications for the months forward, and this yr is not any exception. Knowledge from CoinGlass shows that when Ether closes August within the inexperienced, subsequent months have delivered common positive aspects of round 60%.
The sample was clear in 2017, when a 92.9% August surge set the stage for one more 91% rally into year-end throughout the ICO boom. In 2020, Ethereum rose 25.3% in August after which soared 69% by means of December amid DeFi’s first main wave.
Even in 2021, throughout an overheated bull market, ETH gained 35.6% in August and added one other 17.8% within the fourth quarter.
The flip aspect can be clear: pink August closes have traditionally led to year-end drawdowns averaging -14.1%. Analysts warning, nevertheless, that each bullish August has been adopted by a unfavorable September, with early pullbacks averaging 17% earlier than sturdy This autumn rebounds.
Institutional flows seem like reinforcing the cycle this time round. Blockchain firm Arkham reported that nine wallets acquiring $456.8 million in ETH this week, with a further $164 million in purchases tracked by means of FalconX and Galaxy Digital.
Lengthy-term Bitcoin holders are additionally rotating into Ether. One 2013-era pockets moved $83 million to Binance, whereas one other whale, holding over $5 billion in BTC, has been steadily shopping for billions in ETH by means of Hyperliquid.
Arkham confirmed that 4 whale addresses scooped up one other $357 million value of ETH between August 27 and 28 alone.
Technical analysts see striking similarities between ETH’s present market construction and its 2020–21 breakout. After consolidating for months between $1,000 and $2,000, Ether broke above $2,500 and is now testing larger ranges close to $4,800–$5,000.
This resistance zone, corresponding with its earlier all-time excessive, has triggered a rejection, elevating the potential of a pullback to $3,600–$3,800 earlier than any sustainable breakout. If the 2021 fractal repeats, ETH might be making ready for a parabolic run towards $6,000–$8,000.
Ethereum is at the moment buying and selling at $4,332, down 4.1% up to now 24 hours and 6.1% on the week. Regardless of being 11% beneath its new all-time excessive of $4,946 set on August 24, the token stays up 16.6% over the previous month and greater than 73% within the final three months.
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