Ethereum spot-to-futures ratio hits three-year low

exchange68September 13, 2024

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Definition

Daily spot market total volume for ETH divided by ETH futures trading volume. Both volume calculations include the largest exchanges with trustworthy reporting of exchange volume metrics.

Quick Take

ETH spot-to-futures volume (30DMA) has hit a new low at 0.15, surpassing the lows of January 2020 and January 2023.
During the 2021 bull run, which Cryptoslate have analyzed in the past, derivatives played a big part in the surge of cryptocurrency prices.
Only 0.35 spot was purchased against futures, as opposed to today, where only 0.15 of volume is the spot.
This shows investors’ risk appetite at the moment; however, in an environment of rising rates and liquidity drying up, it may not be able to support elevated prices.

ETH spot to futures volume: (Source: The Block)

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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