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Ethereum (ETH) Contracts Spark Interest and Volume Skyrockets on Deribit, Skew Analysts Say

News
Sun, 05/31/2020 - 14:59
Vladislav Sopov
The Ethereum (ETH) derivatives markets react to bullish price trends demonstrated by the second crypto. It involves the trading volume and sparking interest.
Ethereum (ETH) Contracts Spark Interest and Volume Skyrockets on Deribit, Skew Analysts Say
Cover image via stock.adobe.com
Contents

According to the statistics revealed by analysts at Skew, Ethereum (ETH) and its trading derivatives sets numerous records simultaneously.

Ethereum (ETH) Attacked on Multiple Fronts

Today, the analytical group Skew, which address in-depth research involving cryptocurrency derivatives, reported that the Ethereum (ETH) options trading volume on the Deribit Exchange reached an insane level of $20M yesterday.

Ethereum (ETH) options skyrocketed on Deribit
Image via Twitter

By comparison, the average volume level of Ethereum (ETH) options on the Deribit Exchange is almost nine times less.

The open interest amount for Ether positions also went through the roof yesterday. Within one week, it broke above $110M twice. In the early days of May, the Ether positions was as low as $48M (in equivalence).

Ethereum option OI and Volume surging on Deribit
Image via Twitter

All of these figures are drawing increased attention for Ethereum (ETH) futures. In turn, this could be attributed to the bullish dynamics involving the price of Ethereum (ETH). According to the analytical portal Coingecko, Ethereum (ETH) surged 27% in the last ten days.

Indicators Speak in Favor of Bulls

Some more interesting indicators support the Ethereum (ETH) price rally. For instance, Skew analysts reveal that the risk of volatility for Ethereum (ETH) is trending downwards.

Negative skew indicates risk of volatility now seen to be on the upside
Image via Twitter

Right now, Ethereum (ETH) is also trying to break above the psychologically important figures of the Bitcoin (BTC) trading pair. Since January, this is the third time that the Bitcoin (BTC) bulls tried to stop the price of Ethereum (ETH) at 0.025 BTC/ETH.

Ethereum (ETH) is among the best beneficiaries of the short 'altcoin season', which was announced by a community disappointed with Bitcoin (BTC) refusing to go parabolic after its fourth epoch start.

So, if Ethereum (ETH) manages to reclaim its $250 level, this may lead to new trading records.

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.)