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://bitcointalksearch.org/topic/--5410274
Regardless, anyone that want a decentralized coin, such people go for bitcoin.
Topic: Ethereum Outperforms Bitcoin Trading Operations - page 3. (Read 640 times)
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.
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.
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
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.
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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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.
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..
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.
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.
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.
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
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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