Ethereum hit a new record for spot trading volume, hitting $38 billion on Monday, according to FalconX data.
Meanwhile, bitcoin hit a third-high of $49 billion.
After falling to $2,125, the price later rebounded to $2,879, gaining 27% amid the overall market turmoil.
Ethereum exchange-traded funds saw record inflows of $83.5 million, while bitcoin funds saw outflows of $234.54 million, according to SoSoValue.
Before the crash, a long-dormant Ethereum whale deposited $154 million into Binance, fueling speculation that whales were behind the volatility, as Consensys founder Joseph Lubin pointed out.
The volatility continued on Tuesday, with Ethereum dropping to $2,677 before recovering to $2,853 amid uncertainty over trade tensions.
Meanwhile, Bitcoin is struggling to reclaim the $100,000 level.
