The data shows that Bitcoin recently witnessed an increase in the volume of future trading, and to stay away from the likes of ETHEREM (ETH) and Solana (Sol).
Bitcoin Futures recently frequently recovered
In new mail In X, Glassnode spoke about the latest trend in the latest direction in the volume of bitcoin futures and two other encrypted currencies.
“The volume of futures trading” here refers to an indicator that tracks the total amount of certain encrypted currencies that have become involved in the deals related to future contracts on central derivative stock exchanges.
First, here is the graph that focuses on the volume of bitcoin futures trading:
Looks like the value of the metric has been on the rise for BTC in recent days | Source: Glassnode on X
As shown in the graph above, the BTC Futures trading volume decreased last month, but its value recently found a recovery. At its lowest level, the index approached a mark of 40 billion dollars, but has since increased to $ 57 billion.
“The volume of Bitcoin Futures Sound in the year began at $ 60 billion, its peak at $ 63 billion, and is now sitting 57 billion dollars – 32 % since February 23, but it is still less than $ 74 billion in December,” the analysis company notes.
While the number one cryptocurrency has recently recorded an increase in the scale, the same thing was not true for Ethereum and Solana. From the graph, it is clear that the indicator was moving relatively flat for these two destinies.
The trend in the ETH futures trading volume over the past year | Source: Glassnode on X
The size of Ethereum Futures Counse reached about 32 billion dollars at the beginning of the year and today sits at $ 28 billion, which is not large of the difference. Likewise, the index began a year with $ 7 billion for Solana and is now $ 8.7 billion, again a relatively small change.
The value of the metric has also been moving sideways for SOL | Source: Glassnode on X
Future trading volume acts as a look at how speculative attention is the form of encrypted currency. The last trend means that Bitcoin attracts attention from investors while Altcoins is still old.
In some other news, the market intelligence platform in the market X in X revealed mail How bitcoin began in the long run recently increased their supplies.
Analysis Company “Long -term Holders” has defined that they were investors who have been holding coins for more than a year, without transporting them or selling them once.
The BTC HODLers have just seen a turnaround in their supply | Source: IntoTheBlock on X
According to InTothheblock, long -term holders accumulate in the bear markets, so this last shift can be a sign that the feeling changes towards landing. The Analysis Company also notes, however, “Keep in mind that this is not always a reliable sign: that is, in mid -2011, a similar accumulation has not led to a long decrease.”
BTC price
At the time of this report, Bitcoin floats about $ 81,800, a decrease of more than 3 % over the past 24 hours.
The price of the coin appears to have retraced its recovery | Source: BTCUSDT on TradingView
Distinctive image from Dall-I, IntothBlock.com, Glassnode.com, Chart from TradingView.com
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The post Bitcoin Now Outpacing ETH, SOL In Futures Volume, Data Says first appeared on Investorempires.com.
