Ethereum after update ETH While the futures side is up, some indicators are still Bitcoin (BTC) It is trending in favor and investors seem optimistic.
Ethereum Futures Rise despite Merge Sells
Ahead of the Merge update, ETH options marked turning points as investors bet on ETH’s network upgrade.
Strong interest in ETH futures surpassed that of Bitcoin for the first time in August, and Ethereum hit an all-time high, surpassing $8 billion.
crypto exchange FTXAccording to LedgePrime, a subsidiary of Ethereum, this increase To Poof of Stake It was linked to the emergence of new and more complex strategies among investors who had positioned themselves before the transition.
Meanwhile, the volume of ETH futures dwarfed Bitcoin futures in August.
Block transactions are the privately negotiated buying or selling of large blocks of digital assets over the exchange (OTC).
It is generally preferred by institutions when it comes to buying or selling large amounts of cryptocurrencies without affecting the market price of an asset.
While the ETH price has dropped since Merge, the bulk of the derivatives trading volume took place right after the update.
ETH funding rates turned negative in August and after Merge on Binance with about 21% in Huobi fell by 24%.
Today rates around 5% on Huobi and 1.49% on Binance seem to tend to be neutral.
The $11 billion volume of ETH options lagged behind Bitcoin’s $11.6 billion volume.
*Not investment advice.
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