Flippening? Record $10B Ethereum futures volume briefly outpaces Bitcoin's
The volume on Ethereum futures flipped Bitcoin's after hitting a new record at $10 billion, and derivatives data suggests further upside for Ether price. In the past 30 days, Ether (ETH) price decoupled from Bitcoin (BTC) to post a 67.5% gain, while the leading cryptocurrency price has barely moved. Ether's $3,605 all-time high on May 5 was responsible for boosting the asset's futures open interest to $10 billion.This movement brings up some crucial questions as the dominance of Bitcoin's derivatives markets appears to be challenged at the moment. On May 4, Ether's aggregate futures....
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Messari estimates Ethereum’s daily transaction volume is now 28% greater than Bitcoin's. The daily volume of transactions on the Ethereum (ETH) network is now 28% greater than on Bitcoin (BTC), according to crypto analytics firm Messari.On Jan. 19, Messari’s Ryan Watkins tweeted that Ethereum’s daily transaction volume “is going parabolic” alongside a chart indicating that Ethereum and Ethereum-powered stablecoins have processed $12.3 billion in transactions over the past 24 hours — dwarfing Bitcoin and Omni-based USDT’s $9.3 billion.Ethereum's daily transaction volume is going....
It’s Ethereum time to shine. The smart contracts pioneer is doing so well lately that the flippening narrative returned. With a vengeance. The flippening refers to the hypothetical time when ETH’s market capitalization surpasses that of BTC. Will that ever happen? Can Ethereum dethrone Bitcoin and become the king of the crypto space? And if […]
The crypto asset's market capitalization overtook the Russian ruble in February after a major announcement from car manufacturer Tesla. After hitting a new all-time high price approaching $67,000 earlier on Wednesday, the market capitalization of Bitcoin briefly surpassed the total market cap of the Swiss franc.According to data from Fiatmarketcap, Bitcoin’s market cap was more than $1.263 trillion when the price of the crypto asset reached an all-time high of roughly $67,000 earlier on Wednesday. This briefly exceeded the value of the circulating supply of the Swiss franc at....
Financial derivatives products for bitcoin have grown massively during the last few months. On Friday evening (EST), Arcane Research explained that the Chicago Mercantile Exchange has surpassed Okex as the largest bitcoin futures provider. The regulated derivatives market at CME has doubled month after month as incoming interest has created more demand for CME’s bitcoin futures. The Chicago Mercantile Exchange (CME Group) is the world’s largest financial derivatives exchange that trades in various asset classes. The exchange first launched its bitcoin futures products back in....
Data shows Bitcoin has lost interest to Ethereum and altcoins recently as their combined futures volume has broken past the 85% mark. Ethereum & Altcoins Have Seen Their Futures Volume Rise Recently In a new post on X, CryptoQuant community analyst Maartunn has talked about the latest trend in the futures trading volume share of […]