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Ethereum Rallies Behind As Futures See Strong Gains, Analyst Says There Is More Room To Grow
Summary: Ether (ETH), the second-largest cryptocurrency by market capitalization is trading hands at $1,095 and is up 7.3% in 24 hours as of writing. The ether futures market is seeing strong gains this week. Since Sunday, ether futures open interest (OI) on major venues has grown $350 million to $2.95 billion total, with Binance by far leading the way ...
Ether (ETH), the second-largest cryptocurrency by market capitalization is trading hands at $1,095 and is up 7.3% in 24 hours as of writing.
The ether futures market is seeing strong gains this week. Since Sunday, ether futures open interest (OI) on major venues has grown $350 million to $2.95 billion total, with Binance by far leading the way at $734 million in open interest alone, according to data from Skew.
Brian Mosoff, chief executive of investment firm Ether Capital, told CoinDesk that ether’s spot price still has room to grow, and the growth of futures is a sign of that.
“Ether futures are at an all-time high as the market sentiment has drastically shifted in the last few months," Mosoff said. "I’d attribute it to the successful launch of ETH2, macro conditions looking to alternative asset classes to hedge pending inflation and a robust ecosystem.”
By Emily Mason
Tags: Bitcoin,BTC,ETH,Ether,Ethereum
Link: Ethereum Rallies Behind As Futures See Strong Gains, Analyst Says There Is More Room To Grow [Copy]
