Ethereum is challenging Bitcoin’s dominance in the crypto world as signs of institutional adoption grow. Its one-month forward contract is trading at a 8.37% premium to the spot price, versus Bitcoin’s 6.58% premium, illustrating a higher level of bullishness for the former. The bottom panel tracks the ratio of open interest value in Ethereum contracts versus Bitcoin, which has increased from less than 0.1 in April to nearly 0.3 as it attracts more attention from institutional investors. For more, read this Functions for Market article here or FFM <GO>.
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