82,000 Ethereum (ETH) injected into derivative exchanges, CryptoQuant analysts say
In the last few hours, an enormous sum in Ethers was moved to derivatives exchanges. Typically, this is a signal of a downturn, or, at least, increased volatility, CryptoQuant's verified author says.Ethereum , the second-largest cryptocurrency, witnesses a record-breaking inflow of liquidity into derivatives exchanges. Today, Nov. 5, 2024, over 82,000 Ethers were moved to crypto contracts' trading services.
Amid the current BTC spike over $70,000, the ETH/BTC ratio is seeking a new multi-year low. According to TradingView, it touched 0.035 today, which is the lowest since March 2021. This crucial indicator for the Ethereum price is down 58.3% from the peak observed in late Q4, 2021. Bitcoin dominance, by contrast, is reaching new highs.Digital Transformation Week Expo Returns to London for Global Edition: Essential Gathering for Innovators in AI, Automation, and Digital Strategy
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