Key derivatives market metrics show sophisticated traders are turning their attention to ether (ETH) from the recent market standout, bitcoin (BTC), hinting at a potential outperformance of Ethereum’s native token in the coming weeks. Bitcoin has rallied over 60% this quarter, while ether, the supposedly deflationary currency with bond-like appeal and an ESG-compliant label, has lagged big time, gaining just 35%, CoinDesk data show. The performance gap is even wider over larger time frames, with bitcoin boasting a 163% year-to-date gain versus ether’s 89%.
Source: https://www.coindesk.com/markets/2023/12/06/first-mover-americas-traders-are-turning-to-ether/?utm_medium=referral&utm_source=rss&utm_campaign=headlines