Ethereum Institutional Interest is Rapidly Growing; Here’s What On-Chain Data...
Ethereum is not getting flipped by Binance Smart Chain anytime sooner, shows on-chain indicators. Blockchain analytics platform IntoTheBlock gathered data on Ethereum transactions with volumes greater than $100,000. The portal noted that the second-largest blockchain network processed $20.68 billion worth of transactions in the week ending April 11, leading to a record high volume transfer […]
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The CME has become the largest bitcoin futures exchange by open interest amid institutional onboarding.
Ethereum has been outperforming bitcoin for a while now. The altcoin had managed to grow so rapidly that it is now about half the market cap of bitcoin despite being more than 5 years younger. This outperformance had continued through the bull market and now even into the bear market. Ethereum has taken one step further to overtake bitcoin in yet another metric, and that is the amount of open interest in the asset. Open Interest Flips Bitcoin New data from Glassnode has shown an interesting development when it comes to the open interest in both Bitcoin and Ethereum options. Bitcoin had....
The Chicago Mercantile Exchange (CME) just became the second-biggest Bitcoin futures exchange in open interest behind OKEx, buoyed by rising institutional demand. The CME Bitcoin futures market overtook Binance Futures to become the second-biggest Bitcoin (BTC) futures exchange by open interest. The data shows that the institutional volume is rapidly gaining a larger share of the cryptocurrency market.On Oct. 10, Skew reported that the CME Bitcoin futures market’s open interest rose sharply by 1,500 contracts. Since then, within three days, the price of BTC surged 9% to over $13,000. The....
As the crypto market has taken a turn for the worse, institutional investors are phasing out their investments in Ethereum. The digital asset had been the victim of multiple outflows that had tanked its total AuM (Assets under management) and this trend has continued this week. Instead of moving to a larger competitor, Bitcoin, institutional investors are now moving to networks that are in direct competition with Ethereum. Big Money Leaves Ethereum To Algorand Algorand is one of the leading competitors of Ethereum which has been making waves in the decentralized finance (DeFi) space. Due....
The oracle network’s exponential growth has been tied to the emergence of DeFi. Co-founder Sergey Nazarov said Chainlink is also powering metaverses. The total value secured by the Chainlink network has officially surpassed $75 billion, marking a new milestone for the decentralized oracle solution that has become synonymous with price data services for the rapidly growing DeFi sector. With the milestone, Chainlink has become “one of the most value securing forms of decentralized consensus on the planet,” according to protocol co-founder Sergey Nazarov. Chainlink is also one of the....