Crypto Market Struggles To Regain Momentum, But Analysts See Hope In ETH

The overall cryptocurrency market is crawling back from its nearly five percent drop over the last 24 hours.

Market capitalization leader bitcoin is up incrementally and still sits over the $45,000 mark. But the overall market cap is below $2 trillion again.

Ethereum’s ether is also struggling, trying to digest losses slightly more than 6% in the last 24 hours. The good news is there are still true believers, as witnessed by CME’s ETH futures, currently at an all-time high.

“The percentage share of Ether’s contribution to the open interest of the crypto futures on CME has climbed rapidly since launch (now accounting for 26.5% of the total open interest), suggesting that institutional traders are eagerly building up ETH exposure at the moment,” say analysts from Arcane.