Ether Futures, the second cryptocurrency by market capitalization size has reached its all-time high.
According to Skew Markets, the daily trading volume in the Hong Kong-based FTX encryption exchange; increased to a maximum of $ 245 million.
This figure represents a 51 percent increase from the previous Tuesday’s volume of $ 162 million. The previous record was $ 189 million reached on February 20.
In spite of this, while the maximum in the volumes in FTX was reached; The price of the cryptocurrency fell 10% from $ 251 to $ 215, reaching the lowest level since February 8.
So far this year, the greatest commercial activity was presented since mid-January; when Ether Futures witnessed a daily volume of more than $ 45 million for three consecutive days.
With this, the increase in commercial activity began in the last four weeks.
What to expect from Ether Futures?
Undoubtedly, interest in these types of instruments has grown and as the market becomes more familiar with them, the volume of trade is expected to increase.
So far, the increase has been amazing, as the daily volume went from $ 12 million on January 27 to $ 245 million on February 26, an increase of 1,784 percent.
Another metric to consider is open interest in Ether Futures; that is, the amount of futures contracts pending in the stock market. This open interest increased from $ 8.4 million to a record $ 81 million in the five weeks.
This Wednesday, open positions were $ 72 million.
All this volume only represents the activity in the FTX exchange.
Ether traded about $ 125 in early January and increased to a maximum of seven months from $ 289 on February 19.
Likewise, other exchanges also report a solid growth in trading volumes of Ether Futures. BitMEX, one of the largest derivatives exchanges, traded a volume of $ 1.4 billion on February 13, the highest since July 15, 2019, according to Skew Markets.
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