Is Ethereum awakening? Binance ETH Turnover Hits 6-Month High As Volatility Returns

Analysts say high exchange gains often indicate traders are quickly repositioning portfolios during periods of heightened volatility.

Ethereum (ETH) trading activity on Binance has jumped significantly, with approximately 29.6 million ETH changing hands on the exchange in the past 30 days, the highest turnover recorded since September 2025.

A spike suggests that traders are riding the same supply in the market at a faster pace as volatility returns and derivatives position shifts.

Binance ETH Turnover Increases

Data shared by Arab Chain on March 5 shows the 30-day average of the Ethereum exchange on Binance rose to 8.47. The metric compares the amount of ETH traded at a given time to the amount available on the exchange.

Binance currently holds about 3.5 million ETH on exchanges, but the trading volume during the last month reached about 29.6 million ETH. That means that the same coins have been sold multiple times within a short period of time.

According to Arab Chain, high levels of profitability tend to occur during periods when traders are actively repositioning portfolios or when price volatility increases.

“Historically, high levels of liquidity tend to be accompanied by increased liquidity in the market and rapid movement of assets between wallets and exchanges, indicating increased risk appetite among traders,” notes Arab Chain.

The latest reading is the highest since September last year, a period that also saw strong price swings in the market.

Currently, ETH has risen above the $2,000 level, gaining about 4.6% in the last 24 hours. In the long term, the stock is up about 2% over the past week and up a little over 6% over the past two weeks, though it remains down about 9% over the past 30 days.

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Changing Market Behavior

Along with the increase in revenue, derivatives indicators point to changes in trading behavior across Ethereum and Bitcoin. This is according to market analyst Moreno, who noted that the number of buyers in derivatives markets has started to return to positive territory after months of brutal sales.

Total buyers measure the difference between sellers placing buy orders in the market and those making market sales, which helps show who is pushing prices. According to the analyst, when the metric turns positive after a negative reading for a long time, the first phase usually shows short covering and the opening of hedge positions with new long-term demand.

Ethereum’s derivatives function may seem skewed because the asset is widely used as collateral in decentralized financial strategies. Many traders are holding local ETH while simultaneously shorting indefinite futures contracts to maintain delta-neutral positions, creating persistent selling pressure in derivatives markets.

Another demand signal came from the Coinbase premium for both Bitcoin and Ethereum. According to the analyst CW, the premium is correct, suggesting that buyers in the US exchange are paying slightly higher prices than in global markets.

Combined with the increase in exchange profits and exchange outflows, the data shows that sellers are starting to work again as Ethereum holds above the $2,000 level.