Ethereum (ETH) Futures Has Risen Over Its one-year Peak. Will It Go On?

CS Web Team
By CS Web Team 2 Min Read

ETH futures premium has risen to over its one year high of 7.3% on October 30, despite it being down 14% from its yearly peak in April.

Another strong feeling has driven a possible increase in the price of ETH amid the cryptocurrency market’s overall bullish momentum.

According to market statistics, the premium for Ether (ETH) futures has increased from 1% on October 23 to 7.3% on October 30, marking the highest level in more than a year. It implies that during the time, there has been a sharp increase in demand for long positions in ETH.

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ETH Futures Basis Rate (1 Month) –

The market’s optimistic sentiment has persisted even after ETH’s price dropped by more than 14% from its peak of $2,120 in April. But in the last two weeks, the price of ETH has increased by 15.7%.

The difference between the asset’s spot price and two-month contracts is measured by the futures premium. An annualized premium in the region of 5% to 10% indicates a strong state of the market.

The widespread acceptance of the spot Bitcoin ETF is anticipated to be a major motivating reason for this increase. As usual, ETH will likewise follow the necessary increase in the price of BTC. According to a number of rumors, the spot ETF would propel Bitcoin to all-time highs.

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