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.