New data from Glassnode shows a sharp uptick in ETH-related futures activity, signaling growing confidence in the asset’s upside potential. […]
The post Ethereum News: Futures Activity Surges as Traders Shift Away from Bitcoin appeared first on Coindoo.
New data from Glassnode shows a sharp uptick in ETH-related futures activity, signaling growing confidence in the asset’s upside potential.
As of July 29, Ethereum accounted for nearly 40% of the total open interest in the perpetual futures market, its highest share since April 2023. Historically, only a small portion of trading days have seen ETH dominate to this extent.
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In a rare twist, Ethereum’s trading volume in perpetual futures has also surpassed Bitcoin’s—something not seen since the depths of the 2022 bear market.
This widening gap suggests traders are rotating out of BTC and taking on more exposure to ETH in anticipation of further gains.
These shifts in market dynamics reflect a notable change in sentiment, with ETH attracting speculative momentum amid renewed optimism across the broader crypto landscape.
The post Ethereum News: Futures Activity Surges as Traders Shift Away from Bitcoin appeared first on Coindoo.
Source: https://coindoo.com/ethereum-news-futures-activity-surges-as-traders-shift-away-from-bitcoin/
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