On-chain data shows that Ethereum's spot trading volume is rising relative to leveraged (derivatives) volume, a healthy sign that buying is being driven by actual spot demand rather than excessive leverage.

This often indicates that whales and long-term investors are accumulating ETH instead of chasing short-term speculative moves.

📊 Key Takeaways:

• Spot volume is increasing relative to leveraged volume.

• Stronger spot demand suggests healthier market conditions.

• Whale accumulation appears to be increasing.

• This could support a stronger long-term bullish trend for Ethereum.

⚠️ Always manage your risk and do your own research before investing.

Written by Abdullah Zia