Ethereum price (ETH/USD) hover around $450 as trading volumes surge

Two lesser-known crypto exchanges account for more than 70% of ETH’s 24-hour volume

Ethereum price (ETH/USD) hover around $450 as trading volumes surge

While the Ethereum price (ETH/USD) has fallen in today’s trading, the second-largest cryptocurrency on the market has managed to cap its losses.

Ethereum had a lacklustre session yesterday, although it managed to finish the day with minor gains. Having started the session at $455.94, the digital coin rose to an intraday high of $470.34 in the early afternoon, but did not managed to maintain the positive momentum in subsequent trading. Eventually, the coin finished the session at $460.31.

Ethereum held above the $460 level in the early hours of today’s session, but since then it has been mostly downfall for the digital coin. At the time of writing, the Ethereum price was hovering around $450, according to data from digital currency tracker Coinmarketcap.

Meanwhile, Ethereum has seen significant increase in trading volume in the past 24 hours, recent market data shows. Yesterday, global crypto exchanges processed just over $4 billion of ETH trades, well over the $2.5 billion generated on Sunday. The last time Ethereum’s daily trading volume topped $4 billion was on May 7.

Ethereum’s 24-hour volume currently stands at nearly $4.5 billion, which suggests that the market activity has improved further today.

Interestingly, it appears that most of that volume has been generated by a pair of lesser-known exchanges – CoinBene and Bit-Z – which have captured 39.3% and 29.9% of all trades, respectively. Thanks to this surge in ETH trading the two platforms have risen to the top of Coinmarketcap’s 24-hour volume rankings, overtaking more established exchanges, such as Binance, OKEx and Huobi.

In today’s trading, the Ethereum price stood at $448.24, as of 14:55 BST. The digital coin has lost 2.9% of its value in the past 24 hours, Coinmarketcap data shows. Its total market cap currently stands at nearly $45 billion.

For further information on how to buy and trade Ethereum, see our comprehensive Ethereum guide.

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