Ethereum Shatters On-Chain Records: $135B DEX Volume, 48M TXs,
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Hassan Shittu
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Hassan Shittu
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Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...
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Last updated:
August 29, 2025
Ethereum has smashed multiple on-chain records in August 2025, showing a resurgence of activity across decentralized finance (DeFi) and institutional investment.
According to on-chain data, the network recorded its strongest activity since 2021, with decentralized exchange (DEX) volume climbing to $135 billion, total transactions reaching 48 million, and active addresses hitting 15 million.
Total value locked (TVL) across Ethereum-based protocols surged to nearly $240 billion, marking a new high in decentralized finance participation.
Ethereum’s total transaction volume rose to $320 billion in August 2025, the highest in four years, driven by resurgent DeFi activity, institutional inflows, and sharply reduced transaction fees.
Ethereum ETF Boom Pushes Holdings to $30B, 5.4% of Market Cap.
The boom coincides with a surge in spot Ethereum ETF activity in the United States.
Bloomberg ETF analyst James Seyffart reported that Ether ETFs have absorbed nearly $10 billion in inflows since July, bringing total flows since launch to $13.6 billion.
August alone is expected to close with $4 billion in net inflows, positioning it as the second-largest month on record for Ethereum funds. By comparison, Bitcoin ETFs have registered $622.5 million in net outflows during the same period.
Daily ETF flows show this divergence. Between August 21 and 26, spot Ether ETFs attracted nearly $2 billion, dwarfing Bitcoin’s $171 million in inflows.
On one of the busiest trading days, August 26, Ethereum funds brought in $455 million in new capital, while Bitcoin ETFs managed just $81 million.
BlackRock’s iShares Ethereum Trust (ETHA) dominates the sector, with $17.2 billion in net assets, more than half the market. Fidelity’s FETH follows with $3.7 billion, while Bitwise’s ETHV has grown to $3.2 billion.
Data from SoSoValue shows U.S.-listed Ether ETFs now hold $30.17 billion in assets, equal to 5.4% of Ether’s total market capitalization.
The flow shift has been stark when compared with Bitcoin. Over the past five trading days, Ethereum ETFs attracted $1.83 billion in inflows, ten times the $171 million absorbed by Bitcoin funds.
Analysts say this marks Ethereum’s strongest monthly outperformance against Bitcoin since Ether ETFs launched in July 2024.
Ethereum Reserves Quadrupled Since April Amid ETF and Treasury Demand.
Alongside ETFs, corporate treasuries are also fueling Ethereum’s supply squeeze. Data from the Strategic ETH Reserve (SER) dashboard shows that entities and ETFs together now hold 11.2 million ETH, equivalent to 9.3% of the circulating supply.
Of this, 6.78 million ETH sits in ETFs, while 4.44 million ETH is held by private firms and institutional reserves. The net supply change over the past week has been negative, with 669,500 ETH withdrawn from circulation, highlighting a tightening supply dynamic.
This concentration has nearly quadrupled since April, when reserves totaled around 3 million ETH.
The largest private accumulator is Bitmine Immersion Tech, which now holds 1.8 million ETH worth $7.75 billion after expanding its...
https://cryptonews.com/news/ethereum-shatters-on-chain-records-135b-dex-volume-48m-txs-240b-tvl-whats-driving-it/
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