While Ethereum was trading above $450 at press time, the ETH-BTC correlation remained tight at around 0.76, based on data from CoinMetrics. In fact, Ethereum’s price has gained by 3.69% over the past week and considering the progress of ETH 2.0’s validator nodes, it may seem obvious that many traders are long on ETH. High...Read More
ETH Futures trade volume was up by 38% in 2 days, at the time of writing, according to Skew’s charts. Not just the trade volume, but even the Open Interest was up by 8% based on Skew’s charts. On spot exchanges, the trade volume dropped by nearly 25%, but on derivatives exchanges, it climbed up....Read More
With Bitcoin’s price rallying, altcoins that are strongly correlated to the world’s largest cryptocurrency are set to benefit immensely from it. However, one unusual category of projects, DeFi, may benefit from Bitcoin’s rally too, despite its top projects being inversely correlated with Bitcoin. Correlation of cryptocurrency projects with BTC || Source: Cryptowatch Based on data...Read More
