CME rekindles ETH ‘super-cycle’ debate as Ether futures volume tops Bitcoin

Trading enactment successful Ether futures has surpassed that of Bitcoin connected the Chicago-based CME Group, marking a notable displacement successful the integer plus derivatives marketplace and fueling speculation that Ether whitethorn beryllium entering a long-anticipated “super-cycle” — a sustained, multi-year play of accelerated maturation driven by rising adoption.

In a caller CME video, Priyanka Jain, the exchange’s manager of equity and crypto products, said Ether (ETH) options are presently exhibiting higher volatility than Bitcoin (BTC) options. Rather than deterring participation, she said, the accrued volatility has attracted traders and helped thrust maturation successful Ether futures activity.

“This heightened volatility has served arsenic a almighty magnet for traders, straight accelerating information successful CME Group’s Ether futures,” Jain said. “Is this Ether’s long-awaited super-cycle, oregon simply a catch-up commercialized driven by short-term volatility?”

The rotation was particularly pronounced successful July, erstwhile the so-called flippening saw unfastened involvement successful Ether futures overtake that of Bitcoin futures connected the speech for the archetypal time.

While Bitcoin and Micro Bitcoin futures inactive relationship for the largest stock of enactment erstwhile measured by US dollar value, Jain said the broader inclination is clear: Market information successful Ether-linked products is expanding rapidly.

Source: CME Group

Related: ETH sells disconnected alongside Bitcoin, but Ether adoption gait inactive supports rally to $10K

Ether terms sees renewed volatility 

Ether, Bitcoin and the broader cryptocurrency marketplace came nether renewed selling pressure connected Monday, extending a volatile play that has capped a hard period for the sector. The determination appeared to travel a coordinated question of de-risking astatine the extremity of November.

Commenting connected the sell-off, marketplace expert CTO Larsson said traders chopped vulnerability instantly aft the monthly close.

“People reduced vulnerability astatine precisely 00:00 UTC, due to the fact that the monthly candle closed bad,” helium said.

Source: CTO Larsson

Meanwhile, Ether treasury companies — corporations that made holding ETH connected their equilibrium sheets a halfway concern strategy — person seen the worth of their holdings diminution sharply. Companies specified arsenic SharpLink and Bit Digital are present underwater connected their ETH positions, according to information from CoinGecko.

Magazine: How Ethereum treasury companies could spark ‘DeFi Summer 2.0’