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.
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.