Opinion: ETH Transaction Share Reaches This Cycle's Peak, ETH/BTC Exchange Rate Still Undervalued

By: theblockbeats.news|2025/08/24 16:02:11

BlockBeats News, August 24th. On-chain data analyst Murphy stated in a post that the transaction platform traffic share of ETH is calculated as the ratio of the USD value of ETH and BTC flowing in/out of all trading platforms, representing the percentage of ETH. This is also a key indicator to measure which of the two mainstream crypto assets, ETH or BTC, is receiving more attention or support from funds. On August 15th, ETH's traffic share reached as high as 48% (as shown by the red curve in the chart), marking the highest point in this cycle so far. This ratio signifies that nearly half of the funds flowing in and out of the trading platforms are in ETH, almost on par with BTC, indirectly confirming the current market's high interest in ETH.

If we compare nearly 10 years of this data with the ETH/BTC exchange rate curve (as shown by the blue curve in the chart), we can see that the red and blue lines are highly in sync. The logic is: when more funds start to focus on ETH, the exchange rate of ETH will strengthen, meaning ETH will start to outperform BTC. The calculated historical average of ETH traffic share is 26% (represented by the green line in the chart). By considering the point where the red curve starts to break above the green line as the starting point, indicating that when the traffic share curve is about to exceed the historical average, it means that the exchange rate of ETH is about to start strengthening.

For example, on September 2nd, 2020, the ETH traffic share was 28%, the ETH/BTC exchange rate was 0.038. Afterward, the traffic share continued to climb to 49.5%, and the exchange rate also rose to 0.086 synchronously. In this cycle, after reaching the bottom, the ETH traffic share broke the historical average again on May 17th, 2025, with the ETH/BTC exchange rate at 0.024. Subsequently, with a large influx of traditional capital, the ETH traffic share continued to rise, reaching a peak of 48% on August 15th.

The current ETH/BTC exchange rate is only around 0.04, far from the peak of 0.08 in 2021. Therefore, it appears that the ETH/BTC exchange rate is still undervalued, and as long as the interest from funds is maintained, theoretically, the current exchange rate still has room to rise. This information is shared for educational purposes only and should not be construed as investment advice.

The intense financing by tech giants has triggered a panic of "AI peak," but the soaring capital expenditures of the five major cloud vendors and the bottlenecks in physical infrastructure indicate that the AI investment cycle is far from over; the second half of this grand performance has just begu...

Standard Chartered Bank sings a 50x rhapsody again, aiming for AAVE to reach 3500 USD

The throne of DeFi lending still exists, but the foundation beneath the throne needs to undergo a reconstruction or reinforcement.

The interim executive director of the Ethereum Foundation speaks out: What is our mission?

"We are here to strengthen defenses against where Ethereum has already become or may become extractive, comprehensive, or susceptible to cartel or state control, or influenced by tools of surveillance or coercion from authoritarian regimes."

Why does OKX want to start a new company with the parent company of the New York Stock Exchange?

ICE and OKX established OKXICE, symbolizing the relationship between traditional finance and the crypto market is transitioning from "tentative cooperation" to "infrastructure-level integration."

Why Is PAXG Price Different From Gold? 5 Reasons Crypto Traders Should Know

Why is PAXG different from gold? Learn the 5 key reasons PAXG and XAUT prices can trade above or below spot gold, including liquidity, funding rates, futures basis, and weekend trading effects.

WEEX OpenAPI 101: 5 Powerful Modules, AI Trading Tools, and Grab Up to 70% Revenue Opportunities

Learn how WEEX OpenAPI connects traders, developers, AI agents, and trading platforms. Discover WEEX API features, Binance-compatible integration, automated trading workflows, revenue opportunities, and ecosystem possibilities.

Interview with NDV Founder Jason Huang: Popping the AI Bubble and the Myth of Microstrategy, Seeking the Ultimate Ace in the Crypto Market

Exclusive Interview with NDV Founder Jason Huang: MicroStrategy's coin selling triggered a stampede, BTC has fallen into a liquidity squeeze, and the current market has not yet bottomed out, patiently waiting for a "FTX-level" iconic panic event to clear.

Morning Report | Former Ethereum Foundation researcher establishes Ethlabs; EU Parliament Economic Committee passes digital euro regulatory proposal

Overview of Important Market Events on June 23

Dragonfly partner Haseeb: The fastest-growing companies in the future may all be stuck at 149 people

The pricing of large models is actually an "AI tax": it shackles large enterprises with computing power constraints, slows down automation, but turns subscriptions into a subsidy for small teams' innovative dividends. By capping the scale at under 149 people, startups can continuously experiment wit...

How xBubble Breaks the Deadlock in VC's Heavy Investment in the OPC Economy

DAPPOS launched xBubble, using the innovative model of "SOP is business" to solve the challenges of implementing AI Coding, allowing OPCs who do not understand technology to create a real business closed loop with zero threshold.

The encrypted unicorn Blockstream is deeply embroiled in a serious fraud case

As a mining note product aimed at investors, it inherently carries significant risks. This leaves considerable room for further explanation regarding BMN's actual scale, use of funds, sources of income, and governance disclosures.

Morning Report | The South Korean Financial Services Commission plans to expand the regulatory sandbox to include virtual assets; the parent company of the New York Stock Exchange, ICE, has reached a partnership with OKX to jointly establish a cryptocu...

Overview of Important Market Events on June 22

Exclusive Interview with Strategy CEO: Putting Aside the Sale of 32 BTC, the 60 Trillion AI Intelligence is the Ultimate Fate of Bitcoin

Strategy CEO responds for the first time to the controversy over the sale of 32 bitcoins: testing internal processes and breaking the "death spiral" rhetoric, maintaining long-term holding faith, and revealing how the 60 trillion AI intelligence will reshape the bitcoin trading landscape.

TRON revitalizes the image of the bull, creating a more approachable brand character

From Logo to BoNiu, TRON further enhances its brand visual assets.

Morning News | The draft amendment to the People's Bank of China Law aims to clarify the legal status of digital renminbi; South Korea will transfer about 40 unregistered virtual asset service providers to law enforcement agencies

Overview of Important Market Events on June 24