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

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Bitget2024/02/08 06:41

By:Bitget

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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Quick Take Summary is AI generated, newsroom reviewed. XRP has entered the Top 100 Global Assets at $181.8B XRP trades at $3.05 showing strong annual growth and volume activity XRP has surpassed companies like Adobe, Pfizer, and Shopify in valuation ETF filings and Ripple’s U.S. banking license could boost XRP adoption Japan’s banks and RippleNet partners highlight growing global use of XRPReferences $XRP reenters the top 100 global assets by market cap.

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Solana Treasury Fund, operated by Sharps Technology, and Pudgy Penguins have announced a strategic partnership

Magma Finance Officially Launches ALMM: Sui's First Adaptive & Dynamic DEX, Pioneering a New Liquidity Management Paradigm

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