Ethereum (ETH) became the top-traded asset on Coinbase on Monday, surpassing Bitcoin (BTC), Solana (SOL), and the Ripple-linked XRP token.
According to Coinbase director Conor Grogan, this is the first time that this has happened since 2022.
The flagship altcoin has generated $367 million in trading volume over the past 24 hours.
Mild signs of recovery
According to the analytics platform Santiment, the second-largest cryptocurrency has shown some “mild signs” of recovery.
The firm has noted that ETH continues to move off of exchanges and into cold wallets at “a shocking pace.” In fact, the available ETH supply on exchanges currently stands at its lowest level since genesis (just 6.38%).
