Total notional volume at LMAX Digital trended up in a big way in the previous week. Total notional volume from Monday through Friday came in at $2.8 billion, 112% higher than the week earlier.

Breaking it down per coin, Bitcoin volume came in at $1.7 billion in the previous week, up 110% from a week earlier. Ether volume jumped to $839 million, up 147% from the week earlier.

Total notional volume over the past 30 days comes in at $11.3 billion.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $6,211 and average position size for ether at $2,254.

Volatility has been showing signs of picking up from yearly low levels. We’re looking at average daily ranges in bitcoin and ether of $1,260 and $121 respectively.

It’s been nice to see the recent pickup in prices of crypto assets has also been accompanied by a pickup in volume. This suggests there could be more substance behind the bullish move and could help to encourage further recovery in the sessions ahead.

The market has spent some time focusing on recent outperformance in the price of ether. A lot of this has been attributed to the recovery in global risk sentiment, and a lot of this has also been attributed to the Ethereum upgrade due in September. The upgrade will result in enhanced speed, efficiency and scalability.

At the moment, we’ve seen a fresh period of consolidation in the crypto market, though this latest consolidation is classed as somewhat bullish, given that it is playing out above previous consolidation peaks. Bitcoin will need to get back above $24,300 to open a bullish continuation, while ether will need to clear $1,665.