meaning
ETH’s total daily spot market volume divided by ETH futures trading volume. Both volume calculators include the largest exchanges with reporting of trusted exchange volume metrics.
quick take
- ETH spot-to-futures trading volume (30DMA) surpassed January 2020 and January 2023 lows to hit a new low at 0.15.
- In the 2021 bull market previously analyzed by Cryptoslate, derivatives played a major role in the surge in cryptocurrency prices.
- Only 0.35 spot was bought against futures, as opposed to today where only 0.15 volume is spot.
- This shows investors’ risk appetite at the moment. However, in an environment of rising interest rates and drying up liquidity, it may not be able to support higher prices.
It first appeared on CryptoSlate after Ethereum’s spot-to-futures ratio hit a three-year low.
