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Large Capital Shifts Focus to Ethereum Amid Growing Futures Interest
The large capital has shifted its focus to Ethereum. Market data from futures and options suggest growing interest from major investors in Ethereum, indicating a possible change in the crypto market's emphasis. Quant analyst Omkar Godbowl noted that traders have significantly increased their purchase of call options on Ethereum, with a higher risk profile compared to Bitcoin.
Open interest in Ethereum futures on the Chicago Mercantile Exchange has surged by 186% since April, reaching $3.15 billion. Meanwhile, open interest in Bitcoin futures has only increased by 70%, totaling $17 billion.
Futures premiums support this trend: monthly ETH futures are traded with an annual premium of 10.57%, compared to 8.74% for Bitcoin derivatives.
Perpetual futures funding rates for Ethereum near 8%, while Bitcoin remains below 5%.
The growing interest in Ethereum is linked to three main factors identified by Bernstein analysts, reflecting a shift in investor sentiment and market dynamics.
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AI Analysis
The recent surge in interest towards Ethereum from large investors marks a notable shift in the cryptocurrency market landscape. According to data from futures and options markets, there has been a si...
AI Recommendation
Given the current data, it is prudent for investors to closely monitor Ethereum’s market movements and the underlying fundamentals driving this increased interest. The rise in futures open interest an...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.