Bitget Futures Market Updates: Ethereum Crossed US$2.4K After ETF Application Amendement

Bitget2024/02/08 06:41

By:Bitget

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Ethereum Crossed US$2.4K After ETF Application Amendement

Ethereum's native token Ether jumped above $2,400 Wednesday afternoon to a two-week high as asset managers Ark Invest and 21Shares amended their joint spot ETH ETF filing. While Bitcoin is the largest cryptocurrency, many in the industry argue that Ether has a distinct set of use cases that would make the cryptocurrency particularly useful to financial advisors.

A key roadblock to approving the vehicles is whether the agency considers ethereum to be a security, commodity, or something else entirely— a designation the SEC has so far avoided making officially. Nevertheless, ETH's price advanced nearly 2% within an hour from when the news appeared, breaking above $2,400 for the first time since January 22. The second-largest crypto by market cap was up 2.4% over the past 24 hours and outperformed the broader cryptocurrency market.

Futures Market Updates

The total OI for both Bitcoin and Ethereum saw small increases. Same to 24H volume; the Long/Short ratio and Funding Rate indicates slightly bullish sentiment across markets for the two biggest cryptocurrencies.

Bitcoin Futures Updates

Total BTC Open Interest: $19.26B (+7.19%)

BTC Volume (24H): $41.23B (+48.44%)

BTC Liquidations (24H): $5.06M (Long)/$41.10M (Short)

Long/Short Ratio: 52.31%/47.69%

Funding Rate: 0.0079%

Ether Futures Updates

Total ETH Open Interest: $8.45B (+1.70%)

ETH Volume (24H): $17.39B (+4.01%)

ETH Liquidations (24H): $3.14M (Long)/$3.14M (Short)

Long/Short Ratio: 51.26%/48.74%

Funding Rate: 0.0050%

Top 3 OI Surges

MLK: $3.79K (+0.80%)

XEC: $11.53K (-17.36%)

USDT: $62.61K (-0.79%)

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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