LMAX Digital volumes were solid again on Tuesday, with ETH volume outpacing bitcoin.

Total notional volume for Tuesday came in at $805 million, 28% above 30-day average volume.

Bitcoin volume printed $274 million, 1% above 30-day average volume. Ether volume came in at $357 million, 94% above 30-day average volume.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $12,582 and average position size for ether at $3,191.

Bitcoin volatility continues to track just off yearly low levels. ETH volatility has been trending up since bottoming in May.

We’re looking at average daily ranges in bitcoin and ether of $2,630 and $206 respectively.

Bitcoin has seen a modest uptick over the past 24 hours, seemingly getting a boost from dovish bets in the aftermath of this week’s softer US inflation data.

Meanwhile, broader tailwinds—especially regulatory clarity and ETF-driven capital inflows—are providing foundation for renewed strength.

Ethereum continues to outperform, surging over 10% in the past week and fast approaching a retest of the record high from 2021.

Ethereum’s improved outlook is supported by robust institutional buying—via ETH ETF flows and corporate treasuries—as well as significant network activity, including record-setting on‑chain transactions.

The elevated on-chain demand strengthens the narrative of Ethereum as a utility-driven asset with growing adoption.

Stablecoins have also emerged as a powerful undercurrent for Ethereum. The U.S. passage of the GENIUS Act, which establishes a federal regulatory framework for stablecoins, is unlocking institutional interest and catalyzing design discussions among leading firms.

Major players—including Bank of America, Citigroup, Walmart, and Amazon—are now exploring dollar‑backed tokens under a clearer legal regime.

Finally, broader capital markets are offering supportive momentum. Equity indices like the S&P 500 and Nasdaq are hovering near all‑time highs, buoyed by the softer inflation signals and speculation of Fed easing.