Bitcoin Still Number One Due to Higher Futures Premium, K33 Research

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By BitcoinWiki News

Summary:

A research conducted by K33 shows that Bitcoin remains the top cryptocurrency due to its higher premiums in futures trading. Ethereum is expected to underperform due to lower yields in the derivatives market. Bitcoin’s dominance in the crypto market continues to grow, with an open interest volume of 411,000 BTC. Grayscale’s intention to convert their Bitcoin Trust Fund into a spot Bitcoin ETF could attract over $150 billion worth of capital into the market. The SEC’s approval of a Bitcoin ETF is expected to hit 75% by the end of this year.

Article Content:

A research conducted by K33 shows that Bitcoin is the most appealing cryptocurrency due to its higher premiums in futures trading. Ethereum is expected to underperform in the derivatives market. Bitcoin’s dominance in the crypto market continues to grow, with significant open interest volume. Grayscale’s intention to convert their Bitcoin Trust Fund into a spot Bitcoin ETF could attract substantial capital into the market. The SEC’s approval of a Bitcoin ETF is expected to increase significantly by the end of this year.

Insights and Questions:

1. Bitcoin’s dominance:

Why has Bitcoin solidified its hold on the crypto market despite a broader market downtrend? What factors contribute to Bitcoin’s dominance and growth?

2. The impact of a Bitcoin ETF:

If the SEC approves Grayscale’s request to launch a spot Bitcoin ETF, how will it affect the overall crypto market? Can the potential influx of $150 billion worth of capital lead to significant changes?

3. The future of Ethereum:

Will Ethereum be able to catch up with Bitcoin’s performance in the future? What are the necessary positive fundamentals needed for Ethereum to outperform Bitcoin?

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