Flippening? Record $10B Ethereum futures volume briefly outpaces Bitcoin's

[LeziT]

In the past 30 days, Ether (ETH) price decoupled from Bitcoin (BTC) to post a 67.5% gain, while the leading cryptocurrency price has barely moved. Ether's $3,605 all-time high on May 5 was responsible for boosting the asset's futures open interest to $10 billion.

This movement brings up some crucial questions as the dominance of Bitcoin's derivatives markets appears to be challenged at the moment. On May 4, Ether's aggregate futures volumes surpassed Bitcoin's for the first time in history.



Volume data from Coinalyze shows that $2.6 billion CME Bitcoin futures traded, along with $1.1 billion in CME Ether futures on May 4. However, Ether's aggregate volumes led by $87 billion versus Bitcoin's $81 billion.

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