Ethereum Monthly Volume at $375B in November as ETF Activity Surges
Ethereum saw sustained trading activity in November 2025 with total monthly volume around $375 billion, according to CryptoQuant data reported by Arab Chain. After a volatile year that peaked at over $599 billion in August, volume cooled but remained robust amid institutional participation and heightened retail trading. Binance was the dominant venue, accounting for roughly $198 billion of spot ETH volume in November. Ethereum spot ETFs added nearly $35 billion in monthly trading volume, signalling notable institutional demand and providing structured liquidity. Price-wise, ETH traded above $3,050 after a multi-week sell-off and capitulation among short-term holders; the asset is testing support near the 200-week moving average but remains below the 50- and 100-week moving averages, which now act as resistance. Traders should watch whether bulls can defend the $3,000 zone and reclaim key moving averages to confirm a broader recovery. Primary keywords: Ethereum, ETH trading volume, Ethereum ETF, Binance volume, market liquidity. Secondary/semantic keywords included: spot volume, institutional demand, volatility, moving averages, support and resistance.
Neutral
The news is neutral-to-slightly bullish for ETH liquidity but not an outright bullish price catalyst. Positive signals: high trading volume (~$375B) and nearly $35B in ETF volume indicate strong liquidity and continued institutional participation, which can reduce slippage and improve market structure — supportive for orderly markets. Binance’s dominant share (~$198B) shows concentrated liquidity, aiding short-term price discovery. However, technicals remain weak: ETH is below the 50- and 100-week moving averages after a multi-week capitulation and is only marginally above structural support near the 200-week MA. That keeps near-term momentum fragile and leaves scope for further downside if support breaks. Historical parallels: large-volume months (e.g., August peak) accompanied strong price swings rather than sustained rallies — volume spikes often signal both entry by institutions and high-frequency flows that increase volatility. For traders: expect continued high intraday liquidity and active order flow, but trade with caution — use clear risk management around the $3,000 support and watch reclaiming of weekly MAs for confirmation of a bullish shift. Short-term: elevated volatility and range-bound trading; Long-term: stronger liquidity and ETF participation are constructive, but price recovery requires reclaiming key moving averages and higher lows.