Share this article
Ether Upside Strengthens Relative to Bitcoin
The ETH/BTC ratio is holding support above 0.05 and could face initial resistance near 0.08.
Updated Sep 14, 2021, 1:39 p.m. Published Aug 13, 2021, 9:30 a.m.
Ether (ETH) broke out of a two month consolidation relative to bitcoin (BTC) last week. The ETH/BTC ratio is holding support above 0.05 and could face initial resistance near 0.08.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Ether’s outperformance could signal growing interest beyond bitcoin given the appeal of decentralized finance (DeFi) and the Ethereum blockchain’s latest network update known as the London hard fork.
The chart below shows ETH/BTC’s long-term ascending channel, which provided strong support over the past two years.
Despite ether’s underperformance relative to bitcoin during the 2018 crypto bear market, the second largest cryptocurrency has maintained an uptrend that began in 2016.
Більше для вас
Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
Що варто знати:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
Top Stories
