18 Apr 2023
Exploding institutional activity in ETH
Shanghai - a buy-the-news-event.
In short
As expected, Shanghai was followed by massive ETH withdrawals. Nonetheless, the market overestimated the Shanghai selling pressure, leading ETH to outshine BTC on the backdrop of burgeoning institutional activity.
Takeaways
Bitcoin still oscillates at 30k
ETHBTC pushes from 0.062 to 0.07
Spot volumes grow by 41%
BTC Perp OI retraces last week's surge
More than 1 million ETH withdrawn following Shanghai
ETH OI on CME up 44% in the past week
