mpyllan (OP)
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August 17, 2022, 01:31:33 PM |
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You can see the effect in the number of settlements that both cryptocurrencies achieved in the last 24 hours. While BTC settled some USD 23.32 million, ETH doubled that amount for a total of $48 million, according to Coinglass. It is usual for more bitcoin trades to settle because it has more trading, so its dethronement in this period is striking. However, you can appreciate the most exciting metric regarding trading volume for the Ethereum cryptocurrency in options contracts. Specifically in options open interest, where ether also outperformed BTC. In other words, it has a more significant number of open positions in this derivative than those also trading in the BTC market. https://www.vanticatrading.com/post/ethereum-outperforms-bitcoin-trading-operations
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Tytanowy Janusz
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August 19, 2022, 04:06:12 PM |
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Its pretty impressive but its worth to point out that its mostly a pre-merge hype. After its done, after "buy rumours sell facts event" and spectacular dump, bitcoin will come back on top once again.
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goaldigger
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August 20, 2022, 09:46:24 PM |
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Its pretty impressive but its worth to point out that its mostly a pre-merge hype. After its done, after "buy rumours sell facts event" and spectacular dump, bitcoin will come back on top once again.
This is what happening right now, the market is down again and the price of ETH goes back to $1500 level after failing to sustain the level of $2k, I can say that the market condition also affects the price and of course it didn’t invalidate the update, the hype might still be there but the market influence of Bitcoin still dominates here. There’s a lot of altcoins that outperforms Bitcoin, this is not the first time and probably it can still happen as the altcoins continues to grow as well.
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bitkanu
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August 20, 2022, 11:43:55 PM |
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People are massively buying in rumour but it was going down again after bitcoin dumped so hard again. No reason if outperform in trading operation meant that was even better than bitcoin. The fact that if everything is still remain unpredictable. More volume doesn't mean if that would be good. People are still speculating ethereum due to the next fork. Once it will be done and bitcoin will lead again.
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Ararbermas
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August 21, 2022, 03:34:31 AM |
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rumours is very effective way how to increase the demand in the market because there's still a lot of people going crazy and riding the hypes, wherein assuming they can get a lot of profits afterwards.. But sad to say most of the results when it comes to such situation most buyers are frustrated and end up losses especially when it comes to alts because they always plunges back suddenly.. Unlike bitcoin that it takes too long and safe for gaining quick profits if there's a rumors..
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ethereumhunter
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August 21, 2022, 04:27:25 AM |
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rumours is very effective way how to increase the demand in the market because there's still a lot of people going crazy and riding the hypes, wherein assuming they can get a lot of profits afterwards.. But sad to say most of the results when it comes to such situation most buyers are frustrated and end up losses especially when it comes to alts because they always plunges back suddenly.. Unlike bitcoin that it takes too long and safe for gaining quick profits if there's a rumors..
That is why rumors should not easily provoke us and it is better to research and seek further information so that we know what really happened. But it seems that many people are repeating the same mistake by following the rumors that circulated so that they buy in inappropriate conditions, which results in them experiencing losses. But that's just how it is in the market and when more rumors circulate, it will make people panic and think they should follow suit before it's too late. Only people who can act wisely can take advantage of the situation because they can observe what is really going on.
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jossiel
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August 21, 2022, 03:51:51 PM |
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Just as said by Tytanowy, it's all due to the upcoming merge. And the usual thing that the market triggers is to "buy the rumors and sell the news".
It's the possibility that there will be a huge pump before the merge and then eventually going to pump.
But for the long term holders, nothing to worry about as it's going to be normal again and likely to increase.
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bitcampaign
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August 21, 2022, 06:07:53 PM |
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but that doesn't mean ethereum is far superior to bitcoin or beat bitcoin trading volume over CMC to be number 1, people are coming for ETH because they will merge and release ETH 2.0 soon so many people take advantage of the moment to buy
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adaseb
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August 23, 2022, 03:46:55 AM |
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The reason why is most likely due to the merge. And right now it’s summer and Bitcoin is pretty much trading sideways. So ETH volume doesn’t really mean much.
Many are buying ETH on spot and shorting on the futures, so basically 1 hedge equals to twice the volume. It will be this way until after it merges and the block is passed since people want the free ETH.
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_act_
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August 23, 2022, 04:50:06 AM |
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Bitcoin has more marketcap, it is normal for a coin with low marketcap to increase in price than the coin with high market cap during bull run, the coin with low marketcap will also decrease more than the coin with high marketcap during bear market, that is what we can use to compare ethereum and bitcoin. Another reason is that there are misconceptions about the ethereum upcoming merge which many people thought ethereum and ethereum token transaction fee will be reduced to almost zero and that the transaction speed will increase, but they were all misconceptions. You can read about it: https://bitcointalk.org/index.php?topic=5410274.msg60771275#msg60771275Regardless, anyone that want a decentralized coin, such people go for bitcoin.
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cryptoperkele
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August 23, 2022, 10:35:16 AM |
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but that doesn't mean ethereum is far superior to bitcoin or beat bitcoin trading volume over CMC to be number 1, people are coming for ETH because they will merge and release ETH 2.0 soon so many people take advantage of the moment to buy
Suprior in what way? Eth has less marketcap and smaller liquidity than bitcoin so it moves more easily up or down just because of that. Also it's still considered to be dangerous tech wise as the code is way more delicate then in bitcoin.
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JeromeTash
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August 24, 2022, 03:10:32 PM |
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Quite self-explanatory given how much ETH has been very volatile lately due to the on coming merge. There is a lot of FOMO while others are taking advantage of the volatility to trade both on derivatives and spot markets. Bitcoin on the other hand has been less volatile over the same period.
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virasisog
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August 26, 2022, 06:26:56 PM |
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This usually happens when there are rumors and updates about Ethereum but it can't surpass be the value of Bitcoin. I guess investors are just taking advantage of the possible pump caused by rumors but since we're still in the bearish season, the price might drop down again. Bitcoin will still take the lead again and will continue to dominate the market despite these occurrences.
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Novita
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August 30, 2022, 10:54:34 AM |
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You can see the effect in the number of settlements that both cryptocurrencies achieved in the last 24 hours. While BTC settled some USD 23.32 million, ETH doubled that amount for a total of $48 million, according to Coinglass. It is usual for more bitcoin trades to settle because it has more trading, so its dethronement in this period is striking. However, you can appreciate the most exciting metric regarding trading volume for the Ethereum cryptocurrency in options contracts. Specifically in options open interest, where ether also outperformed BTC. In other words, it has a more significant number of open positions in this derivative than those also trading in the BTC market. https://www.vanticatrading.com/post/ethereum-outperforms-bitcoin-trading-operationsGranted, for the most part, the pre-merger hype was just to show that it felt decent and impressive, thus leading most people to buy into the rumors, but I don't think there's any way Ethereum outperformed Bitcoin, even though its decline in this period has been stark. We've seen history in the cryptocurrency market that Bitcoin has proven itself to be the leader of the digital currency market, and I think it's fair to speculate that Ethereum has outperformed Bitcoin. If you follow the rumors that are circulating and you, without researching them first, immediately buy under unsuitable conditions, you will experience losses.
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btc_angela
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August 30, 2022, 02:15:06 PM |
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Just looking at the date of this thread, yeah, seems to be on the hype on the merger that's why it outperformed bitcoin at that time. But looking at today, bitcoin is on the top again, so there is no Flippening, sorry to burst the bubble for ETH investors.
Nevertheless, Sept might be good to see the price go up to $2k or even higher, because finally it will be done on the mainnet. So again, expect a new hype, prices go up, but hopefully it will be sustainable at least.
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yohananaomi
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August 30, 2022, 06:03:29 PM |
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---- Nevertheless, Sept might be good to see the price go up to $2k or even higher, because finally it will be done on the mainnet. So again, expect a new hype, prices go up, but hopefully it will be sustainable at least.
although the situation does not appear to be showing signs of improving, Obviously hoping that there will be changes in September is certainly a wish, although it is possible that the expected analysis cannot be fulfilled properly. because in a situation like this all analysts can't give exact information about what will happen with crypto. We will wait patiently that September will indeed see changes, although it is very possible that it will always fail to happen, but hope is something that does not hurt.
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South Park
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September 01, 2022, 08:27:17 PM |
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Its pretty impressive but its worth to point out that its mostly a pre-merge hype. After its done, after "buy rumours sell facts event" and spectacular dump, bitcoin will come back on top once again.
This is absolutely correct, when you just look at the numbers it may seem as if ethereum is moving closer to bitcoin but that is only true if you do not take into consideration the circumstances which surrounds those numbers, as we know people are very excited about the merge and they are investing heavily in ethereum, so it makes sense that its metrics are for the time being a little bit better than the metrics of bitcoin, but once this hype goes away things are going to go back to normal.
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Oceat
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September 01, 2022, 11:18:33 PM |
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This usually happens when there are rumors and updates about Ethereum but it can't surpass be the value of Bitcoin. I guess investors are just taking advantage of the possible pump caused by rumors but since we're still in the bearish season, the price might drop down again. Bitcoin will still take the lead again and will continue to dominate the market despite these occurrences.
Do they know this is usually what's happening when there's a hype? Just a little rumor and boom fomo everywhere but after a few days or weeks it will just all gone and stop then a sudden drop that they don't expected going to happen and little did they know the market suddenly collapse back to it's usual price. Well, it's best to just buy it when you know it's cheap and not when you know it's going to pump soon.
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AmoreJaz
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September 01, 2022, 11:30:23 PM |
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This usually happens when there are rumors and updates about Ethereum but it can't surpass be the value of Bitcoin. I guess investors are just taking advantage of the possible pump caused by rumors but since we're still in the bearish season, the price might drop down again. Bitcoin will still take the lead again and will continue to dominate the market despite these occurrences.
Do they know this is usually what's happening when there's a hype? Just a little rumor and boom fomo everywhere but after a few days or weeks it will just all gone and stop then a sudden drop that they don't expected going to happen and little did they know the market suddenly collapse back to it's usual price. Well, it's best to just buy it when you know it's cheap and not when you know it's going to pump soon. this is what traders are taking advantage of. they are discreetly gaining profits because of this type of scenario. this is like their playing ground on how to extract profits from fud and other fomo reactions by the community. if you are here long enough, you already witnessed this countless times, and for sure, you have your tactics on how to get your own profits.
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icalical
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September 02, 2022, 12:24:00 PM |
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People are buying ETH for the merge rumor hype, let see what happened after the merge actually happened. If it actually solve the gas fee issue, and ETH finally can scale up again so there is a small possibility that ETH will finally take over bitcoin marketcap. Only small possibility not a big one, because bitcoin will also get more adoption.
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