BitcoinEthereum

ETH trading volumes are growing faster than BTC trading volumes

According to The Block analyst Larry Chermak, recently the volume of trading in ether, including futures and options, has been growing much faster than Bitcoin.

Larry Cermak notes that the popularity of ETH trading may be a result of the significant growth in the decentralized finance industry, which is built primarily on the Ethereum network.

040820_eth_btc_volumes.png

If you look at the derivatives market data, now the volume of trading with bitcoin is twice the volume of trading with ether. At the same time, in September 2019, trading in pairs with ETH accounted for only 16% of the indicator in pairs with BTC. A similar growth is noticeable in the futures market – if in September 2019 the volume of trading in ether futures amounted to 8% of the volume of trading in Bitcoin futures, now they have increased to 29%.

According to the analyst, an increase in trading volumes with the second cryptocurrency may be a signal for the continued growth of the ether price. At the same time, Chermak recalls, the market capitalization of ETH is still five times less than the capitalization of BTC.

About author

Experienced Founder with a demonstrated history of working in the newspapers industry. Skilled in Data Research, Management, Investment Research, Teamwork, and Leadership. Influencing the technology, people, and technical analysis of the Cryptocurrency and Blockchain world.
Related posts
Bitcoin

After Previous Negative Statements, Norwegian Billionaire Invests In Bitcoin

BitcoinCryptocurrencyEthereum

Bitcoin Recovers $56,000: ETH Recovers $1,700 (Observed Over The Weekend)

Bitcoin

Bitcoin Sets Fresh Record Above $50,000

BitcoinMining

BTC miners earned more than $ 4 million per hour amid growing fees and BTC rate

Sign up for our newsletter and stay informed

0 0 votes
Page Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x