#Crypto compare eth calc upgrade
#Crypto compare eth calc series

“Higher volatility and trade volumes are likely to attract liquidity providers back to the market, helping to repair the ‘Alameda gap’ - the post-FTX gap in order book depth - which has persisted for more than a year,” Kaiko said.īlackRock's spot Ether ETF application could unlock billions from institutional investors - analystsĪdditional analysis on the ETHBTC ratio was provided by market analyst Negentropic, who said the “ETHBTC-ratio is the key indicator to gauge the optimism in Altcoins.” The report also noted that November has seen the Bitcoin and Ether 30-day volatility measure rise to 40% and 50%, respectively, after they hit a multi-year low of around 15% in the summer.

“ETH funding rates - a gauge of sentiment and bullish demand - have also surged to their highest levels in more than a year, suggesting sentiment has turned,” Kaiko said. This also resulted in the Chicago Mercantile Exchange (CME) overtaking Binance as the largest BTC futures market.

#Crypto compare eth calc series

Source: KaikoĮther has also seen an uptick in demand in the derivatives market, with ETH open interest (OI) recovering to its early August levels, while Bitcoin has seen its OI decline over the past month, largely due to a series of large liquidations on Binance. Historically, altcoin volume increases relative to BTC during a bull rally.”īTC vs. “The market share of altcoin + ETH volume relative to BTC has risen to 60%, its highest level in more than a year. “The ETH ETF narrative added legs to the ongoing rally, which has been helped by improved global risk sentiment and falling U.S. Kaiko noted that the impact of the announcement on the market was strong, “with ETH prices surging above $2k for the first time since April and daily spot trade volumes hitting $7bn, their highest level since the FTX collapse.”

#Crypto compare eth calc upgrade

The ETH to BTC ratio, which measures the relative performance of the two assets, has trended downwards ever since The Merge, even though ETH underwent another successful upgrade in April.”īut that trend changed last week after BlackRock filed for a spot ETH ETF, which led to a rise in sentiment surrounding Ether that coincided with a reversal of the ETH:BTC ratio. Throughout most of 2023, Ether has lagged behind Bitcoin in terms of price growth as King BTC received the lion’s share of attention from investors due to the filing of multiple spot BTC ETF applications by some of the largest asset managers in the world.Īs noted in a recent report from Kaiko, “ETH has struggled to gain momentum over the past year, strongly underperforming BTC and many altcoins. ( Kitco News) - In the world of precious metals, the gold:silver ratio has been used for centuries to gauge the relative value of the two key monetary metals and help investors gain insight into which is favored by investors and which has the most upside potential.įor cryptocurrency traders, the closest comparison to the gold:silver ratio is the Bitcoin ( BTC) to Ether (ETH) ratio, which looks at how the top two cryptocurrencies by market capitalization perform relative to each other. Receive a comprehensive recap of the day's top stories directly to your inbox. Get all the essential market news and expert opinions in one place with our daily newsletter.