 ▲ Ethereum (ETH) |
Altcoin leader Ethereum (ETH) fell about 2% over the past 24 hours, but maintained the $2,500 support level.
According to data from CoinMarketCap, a global cryptocurrency market relay site, Ethereum, the second-largest coin by market cap, is trading at $2,528 as of 9:03 a.m. on January 18, Korean time. This is a price drop of 2.18% compared to 24 hours ago. At the same time, leading Bitcoin (BTC) is trading at $42,740, down 0.95%.
QCP Capital, a Singapore-based cryptocurrency trading company, said, "The Ethereum/Bitcoin (ETH/BTC) ratio rose to 0.06, which is a result of expectations for the Ethereum spot exchange-traded fund (ETF). In the medium term, Ether "Reum is expected to continue to outperform Bitcoin's rise. Additionally, ETH futures remain attractive despite the recent decline in yields," he said.
He added, “The next major events are the Bitcoin halving in April and the approval of the Ethereum spot ETF in May. Until then, there may be macroeconomic impacts.”
Cointelegraph said, “According to a report by 10xResearch, Bitcoin futures open interest (OI) share remained stagnant from 41.6% on January 1 to 41.1% currently, while Ethereum’s open interest share increased from 21.8% to 26.5%. This is interpreted to be because investors expected the Ethereum/Bitcoin upward trend to continue. Additionally, 10x Research reported that the Bitcoin dominance (market capitalization) indicator fell below 50% for the fourth day. This is often due to altcoins “It is seen as a signal that it can continue to perform better than coins,” he said, expressing optimism about Ethereum.
Meanwhile, an anonymous cryptocurrency analyst, Credible Crypto, recently told his 363,700 followers on social media platform He made a bullish argument.
