Ethereum ETH Ether Merge Ethereum futures volume and transaction count surpass Bitcoin ahead of the Merge
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According to a new report from Tom Rogers, head of research at ETC Group, last month was the "first time since records began that Ethereum futures trading volume surpassed Bitcoin, at $1.07 [trillion] across the month." That stands in stark contrast to data from the past three years, which shows that "Bitcoin futures volume has generally exceeded its closest rival by a ratio of between 2:1 and 5:1," the report said.
Further evidence of rising interest can be found in the transaction count data, which shows that unique Ethereum transactions jumped by 40.3% between Aug. 31 and Sept. 4, surpassing the transaction count for Bitcoin on several occasions. A similar trend was seen in futures data as well, with data from Deribit showing that interest in Ether futures has risen by 70% since mid-July as compared to a 12.9% rise in interest for Bitcoin futures. Insight into the future outlook for Ether price was provided by David Lifchitz, managing partner and chief investment officer at ExoAlpha, who highlighted that Ether "has been able to bounce about 90% off its Summer low while BTC remained stuck near its Summer low.
Lifchitz also highlighted the possibility that the Merge might not succeed, rendering the Ethereum blockchain unstable for some time.
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