Globally, there has been a shift from alternative cryptocurrencies and into bitcoin.price debuted in the U.S. late July, opening doors for investors seeking exposure to the cryptocurrency while bypassing the hassle of storing it.Trading volume in ether futures declined 28.7% to $14.8 billion in August, the lowest since December 2023. Volume in ether options fell 37% to $567 million.
Before the advent of spot ETFs, futures and futures-based ETFs were the only regulated avenues available for traditional stateside institutions. The spot products are generally perceived as superior to futures-based ETFs as the latter are vulnerable to"show ether ETFs have registered a net outflow of over $500 million since their debut. Bitcoin ETFs, in contrast, saw a net inflow of over $300 million in the first six weeks.
Ether's price fell over 22% to $2,512 in August, its biggest monthly percentage slide since June 2022, amid volatility in traditional markets and crypto market leader bitcoin.Globally, there has been a shift toward market leader bitcoin, a sign crypto investors are becoming risk averse in the wake of the stalled bull run.
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Source: CoinDesk - 🏆 291. / 63 Read more »