Ethereum, the second largest crypto asset by market capitalization has hit a staggering $60 billion in weekly transaction volume.
The information was revealed by crypto tracker IntotheBlock revealing that the weekly transaction volume numbers are Ethereum’s highest since July.
Ethereum is also a beneficiary of the bull run sweeping through the market at the moment following Donald Trump’s victory.
The Big altcoin has surged by a whopping 20.6% in the last 7 days and 23.8% within 1 month.
The crypto asset hit the $3,300 price level a few days ago, a peak point for the altcoin in a long time.
At the time of this report, the altcoin is exchanging hands for $3,167 experiencing a 6.0% drop in the last 24 hours.
Ethereum’s impressive $60 billion transaction volume in one week is a strong indicator of many factors. The high transaction volume indicates a strong market interest led by investors investing and accumulating Ethereum assets.
Ethereum is currently down by 35.2% from its all-time high of $4,878. Ethereum’s all-time high was recorded exactly three years ago in November 2021.
Ethereum is the second-largest cryptocurrency in the industry by market capitalization and is usually a beneficiary of the ripple effects of Bitcoin surging in price.