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Bitcoin (BTC) Becoming More Attractive for Institutions: New Evidence From Analyst Charles Edwards

News
Tue, 06/09/2020 - 12:25
Vladislav Sopov
Institutional investment in Bitcoin (BTC) is a common topic of pro-Bitcoin (BTC) narratives. Analyst Charles Edward believes this process is reaching a crucial milestone
Bitcoin (BTC) Becoming More Attractive for Institutions: New Evidence From Analyst Charles Edwards
Cover image via twitter.com
Contents

Seasoned analyst Charles Edwards of Capriole Investments has compared the Bitcoin (BTC) futures trading statistics from BitMEX and Chicago Mercantile Exchanges. Institutions are coming, he concluded.

Chasing BitMEX

Mr. Edwards revealed that the statistics for open interest in Bitcoin (BTC) futures for both platforms. The inputs for charts were provided by the Skew analytical group that addresses the segment of cryptocurrency futures trading.

CME Bitcoin (BTC) futures open interest is getting closer to BitMEX numbers
Image via Twitter

According to the statistics, open interest in the XBTUSD pair on BitMEX is about $616.7M - this is 9% less than the average amount in Q1-Q2, 2020. During the bullish rally of February 2020, this number stayed above $1.1B for two weeks.

On Chicago Mercantile Exchange, open interest in Bitcoin (BTC) contracts is $468M, which is twice as much as the average level for the corresponding period. Particularly, Charles Edwards highlighted the rapid progress of CME.

The Bitcoin (BTC) OI level on CME surged almost 310% in 2020. Thus, it can surpass competitors in the nearest future.

Does Bitcoin (BTC) need institutional money?

Mr. Edwards outlines that BitMEX trading statistics should be applied to retail Bitcoin (BTC) futures trading. In this segment, the exchange led by Arthur Hayes established itself as an undisputed multi-year leader.

CME Bitcoin (BTC) futures are mostly exposed to institutional investors. This is why this race goes far beyond the competition between the two platforms.

Typically, investors and analysts are waiting for an institutional money influx into Bitcoin (BTC). It could be major evidence of its adoption as a solid financial instrument.

Despite this fact, some prominent Bitcoin (BTC) experts think differently. Legendary cypherpunk and Blockstream CEO Adam Back announced that the Bitcoin (BTC) price could reach six-digit levels even with no institutional money involved.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director

News
Mon, 07/13/2020 - 14:38
Vladislav Sopov
John Lilic, managing director at ConsenSys decentralized development studio, has shared an over-bullish prediction for Ethereum (ETH) progress
Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director
Cover image via stock.adobe.com
Contents

John Lilic leads international business development in the ConsenSys leading blockchain development studio. He is also an expert in energy markets and cryptocurrency segments. He tracked the progress of Bitcoin's (BTC) and Ethereum's (ETH) market capitalization statistics, coming up with an extravagant prediction.

Bitcoin (BTC) should get ready for parity

Mr. Lilic outlined that Ethereum (ETH) is showcasing much healthier dynamics than its competitor is. For instance, the flagship cryptocurrency still surpasses Ethereum (ETH) by 6.3x in terms of market capitalization, while simultaneously collecting 20% fewer fees than Ethereum (ETH).

John Lilic of ConSensys foresees parity of Bitcoin (BTC) and Ethereum (ETH) market capitalizations
Image via Twitter

Also, Ethereum (ETH) is demonstrating much more impressive price dynamics this year. It gained almost 37% against Bitcoin (BTC) in 2020. That said, Ethereum (ETH) looks severely undervalued to the top manager of ConsenSys.

However, Ether is on the path to eliminating this discrepancy. Eventually, the top two cryptocurrencies may reach market capitalization parity, concludes Mr. Lilic.

Related Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains
Related
Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains

As covered by U.Today Crypto News recently, Coinmetrics on-chain research team called Bitcoin (BTC) and Ethereum (ETH) the unique crypto behemoths that have managed to recover from Black Thursday.

Bitcoin (BTC) is losing supremacy in "fee race"

Should Ethereum (ETH) overcome its undervaluation, its price may be over $1,550 based on liquid supply and current Bitcoin (BTC) market capitalization.

Recently, it was unveiled that Ethereum (ETH) blockchain continues to surpass Bitcoin (BTC) in terms of network fees for more than 30 days in a row. Ethereum (ETH) is seeing this advantage for the first time in its history.

As U.Today Crypto News reported previously, ex-Messari analyst and angel investor Qiao Wang identifies two main catalysts of Ethereum's (ETH) price run in the mid-term perspective.

Related Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang
Related
Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang

According to Wang, the upcoming rally may be fueled by a long-awaited transition to Proof of Stake and fixing the monetary policy of Ether token.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)