The Ethereum native token, Ether (ETH), has surpassed Bitcoin (BTC) in the futures market. Ethereum is experiencing revolutionary changes as it prepares for future crypto marketplaces. For instance, during the Ethereum Merge, scheduled for September 13, the proof-of-stake mechanism will replace the proof-of-work system on the blockchain. The change will likely spark a rally for Ethereum, sending the price of ETH tokens to all-time highs.

Ethereum Futures Surpass Bitcoin

Ethereum, Bitcoin’s closest competitor, is setting new milestones in terms of futures trading volume. According to data from the world’s top derivatives exchanges, the month of August 2022 saw Bitcoin futures trading volume calm down to $941bn. Compared to Bitcoin, trade volume in Ethereum futures for August was $1.07trn, a new record high. Bitcoin futures volume has been more than that of its nearest competitor by a factor of 2 to 5 during the past three years.

Futures volumes gauge market sentiment and the potential strength of current price movements instead of directly predicting future crypto asset values. Since there are more buyers and sellers, higher volume translates into greater liquidity in one or more assets, which is advantageous for trading.

Ethereum Price Chart

That would imply that Ethereum’s 16% rise since August 29 will accelerate. Volatility, on the other hand, is the keyword for the systemically significant blockchain. The research outlines and clarifies every detail of the blockchain’s software upgrade in history. This is also stated in ETC Group’s 40-page study paper on The Merge.

The current price of Ethereum is $1,702.95, with a 24-hour trading volume of $2 billion. In the previous 24 hours, Ethereum has gained 4.45%. CoinMarketCap now ranks #2, with a live market cap of $2.08 billion, and has a total circulating supply of 122,304,200 ETH coins.

Bitcoin Futures Volumes Declines

Bitcoin futures volumes have fallen more than two years behind Ethereum’s closest competitor. As a result, the volume of Bitcoin futures trading has dropped to $941 billion by August 2022, according to data from the top derivatives exchanges. Ethereum futures trading volume surpassed Bitcoin in August for the first time in history, with $1.07 trillion in trading volume. Bitcoin futures volume has typically outpaced its nearest competitor by a factor of two to five over the previous three years.

Rather than predicting the price of crypto assets in the future, futures volumes reveal the mood of the market and the potential strength of price trends. For example, if more buyers and sellers are in the market for specific security, the market is considered more liquid.

Ethereum Puts Bitcoin Under Further Pressure

Nobody knows if this optimistic tendency has already been factored into the impending merge, the transition of Ethereum from proof-of-work (PoW) to a less energy-intensive proof-of-stake (PoS) system. However, as Dan Held, the head of growth marketing at Kraken, recently stated, the impending merge of Ethereum would most likely put additional pressure on Bitcoin, potentially resulting in price changes in the future.

As Held noted, this may be significant when the Bitcoin vs. Ethereum debate reaches the growing army of activists concerned about Bitcoin’s energy consumption.


The open interest leverage ratios of BTC and ETH have reached all-time highs, allowing for long/short squeezes. In addition, short-term trading positions caught traders off guard, resulting in unexpected asset value spikes. Long-term investors with cash on hand are closely monitoring these levels. However, according to a recent Bank of America survey of fund managers, investors remain bearish on broader equity markets. They are, however, no longer “apocalyptically so.”

Furthermore, long Bitcoin trading isn’t as popular as it once was. Instead, crowded trades increase volatility significantly because they create fragility and the possibility of price point squeezes. For the next few months, Ethereum and the possibility of the so-called Flippening, or the point at which Ether’s market valuation surpasses Bitcoin’s. It will be the sole topic of conversation. It is unusual and could signal a significant shift in market expectations.


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