In fact, last month was the “first time since records began that Ethereum futures trading volume surpassed Bitcoin, at $1.07 T across the month,” the report added.on the same development. Herein, the analysis depicted the sheer difference in annualized 3-month rolling basis between the two rivals.
obtained by buying a spot asset and simultaneously selling a futures contract on it that expires in three months. Due to supply and demand factors, futures contracts often trade at a higher price than their spot counter-part. This is used by traders to lock in the profits that is the difference between spot and futures prices, which currently played out perfectly for the largest altcoin.attractiveness of spot hedge via short futures droveinto backwardation. This means that it showcased a potential to rise as traders put bullish bets on the same.
Open interest – or the number of unsettled futures contracts – surged to over $9 billion this week from under $4 billion in July,