Ethereum derivatives have just surpassed Bitcoin - Will ETH rebound sharply at the end of the year?

Coinjie.com reports:

Ethereum's derivatives open contracts exceed Bitcoin.

Upgraded momentum, ETF speculation and security roadmap can stimulate ETH's breakthrough potential.

Ethereum [ETH] has reached a historic milestone in the cryptocurrency derivatives market; its open contracts have surpassed Bitcoin [BTC].

This shift shows growing institutional confidence in the future potential of ETH.

From increasing developer engagement to a mature market structure and enhanced security protocols, Ethereum seems to be entering a new stage of development.

As the end of the year approaches, all signs are likely to break through – institutional traders seem to be positioning accordingly.

Ethereum derivatives price surges, surpassing Bitcoin

Ethereum in the derivatives market, as of press time, open contracts have risen by 8.03% in the past 24 hours - in sharp contrast to Bitcoin's 2.24% decline.

ETH also ranked first in the list, with trading volume reaching US$109.77 billion during the same period, a significant increase of 34.16%. Meanwhile, BTC's trading volume fell 28.16% to $81.01 billion.

Although Ethereum has a smaller market cap and a lower total open position compared to Bitcoin, Ethereum's rising financing rates and significantly higher clearing rates indicate a massive influx of traders into Ethereum.

Bullish signal enhancement

Ethereum's technical indicators are preparing for potential breakthroughs. As of press time, the RSI was 64.06, close to the overbought area, indicating that buying pressure is increasing.

Meanwhile, MACD turned bullish and the signal line was ready to cross upward, suggesting a continued upward momentum.

ETH rose sharply after the Pectra upgrade on May 7, rekindling investors' confidence in Ethereum's scalability and efficiency.

Now, the market is approving spot Ethereum ETFs which include pledges – which could be a game-changer.

As REX Shares and others use regulatory workarounds to submit applications, analysts believe the product could be launched in a few weeks, adding another strong impetus to the rise in ETH.

Call for strengthening security

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