Ethereum's Derivatives Volume Surpasses Bitcoin, Altcoins Show Mixed Activity

以太坊的衍生工具量超过比特币，altcoins表现出混合活动

Ethereum has overtaken Bitcoin in 24-hour derivatives volume, fueled by increased futures activity and rising open interest. Ethereum recorded $168.30 billion in trading volume, surpassing Bitcoin's $114.14 billion during the same period.

以太坊在24小时的衍生品数量中超过了比特币，这是由于期货活动增加和开放兴趣的增加所推动。以太坊的交易量为1683亿美元，在同一时期超过了比特币的1,141.4亿美元。

Confirmed by Glassnode, this shift in volume coincides with strong positioning activity in Ethereum markets, evidenced by a 2.17% increase in open interest. In contrast, Bitcoin's open interest decreased by 0.28%, suggesting reduced speculative engagement.

通过GlassNode确认，这种体积的变化与以太坊市场的强大定位活动相吻合，开放利息增加了2.17％。相比之下，比特币的开放兴趣下降了0.28％，表明投机性参与度降低。

Trading Volume Leads Market Shift

交易量引导市场变化

According to Coinglass data, Ethereum's derivatives volume surged by 2.20% in 24 hours, with its price increasing by 3.99% to $3,604.68. Liquidations in Ethereum reached $236.86 million, the highest among all tracked assets. Its open interest-to-market cap ratio stood at 0.119, reflecting substantial leverage participation. Meanwhile, Bitcoin's trading volume rose by 4.98% despite a 0.32% dip in price. Daily liquidations for Bitcoin totaled $153.95 million, with an OI ratio of 0.0367.

根据Coinglass数据，以太坊的衍生工具在24小时内飙升了2.20％，其价格上涨了3.99％，至3,604.68美元。以太坊清算达到2.3686亿美元，是所有追踪资产中最高的。它的开放兴趣市场上限比率为0.119，反映了实质性的杠杆参与。同时，尽管价格下跌了0.32％，比特币的交易量增长了4.98％。比特币的每日清算总额为1.5395亿美元，OI比率为0.0367。

Source: Coinglass

资料来源：小店

This shift has resurfaced, indicating increased market activity surrounding Ethereum as it gains momentum. The change in relative volume suggests a growing preference for Ethereum contracts over Bitcoin in the current market. Ethereum's rising open interest signals new entries, without major signs of mass liquidation, reflecting fresh positioning within the ETH futures market.

这种转变已经浮出水面，表明随着势头的增长，围绕以太坊的市场活动增加了。相对量的变化表明，在当前市场中，人们对以太坊合同的偏爱越来越多。以太坊的开放兴趣上升的新条目，没有大规模清算的重大迹象，反映了Eth Futures Market中的新定位。

Broader Market Movement Revealed as other Altcoins See Mixed Activity

更广泛的市场运动所揭示的正如其他山寨币一样，参与混合活动

XRP registered the highest jump in volume among major tokens, with a 98.60% increase to $48.96 billion. The asset gained 5.56% in price and saw a 12.04% increase in open interest. Liquidations for XRP totaled $97.83 million. XRP's open interest-to-market cap ratio came in at 0.0543.

XRP在主要代币中的数量最高，增长了98.60％，至489.6亿美元。该资产的价格上涨了5.56％，开放利息增加了12.04％。 XRP的清算总计9783万美元。 XRP的开放兴趣市场上限比率为0.0543。

Solana followed with an 8.53% increase in trading volume to $27.06 billion. The asset rose 2.14% in price, while open interest rose 3.86%. Solana experienced $48.56 million in liquidations and had an OI ratio of 0.0974.

Solana随后增加了8.53％的交易量，达到270.6亿美元。资产的价格上涨了2.14％，而开放利息上涨了3.86％。 Solana经历了4856万美元的清算，OI比率为0.0974。

Dogecoin recorded the highest price increase at 11.22%. Its trading volume rose 55.46% to $15.47 billion. Open interest jumped 25.42%, the strongest among top assets. DOGE liquidations stood at $43.49 million. Its OI-to-market cap ratio matched Ethereum at 0.1119.

Dogecoin的价格最高，为11.22％。其交易量增长了55.46％，至154.7亿美元。开放兴趣跃升了25.42％，是最高资产中最强的。 Doge清算为4,349万美元。它的OI与市场上限比在0.1119中匹配以太坊。

Cardano gained 5.65% in price and recorded an 80.42% increase in volume. ADA's open interest climbed 17.59%, and it saw $12.47 million in liquidations. Its OI ratio stood at 0.0545.

Cardano的价格上涨了5.65％，量增加了80.42％。艾达（Ada）的开放兴趣攀升了17.59％，清算清算额为1,247万美元。其OI比率为0.0545。