ETH/BTC Ratio Reaches 10-Week High Amid Positive Regulatory Developments
- The ETH/BTC ratio has climbed to a ten-week high, indicating Ether’s momentum against Bitcoin.
- Bitmine added over 71,524 ETH to its treasury on Monday, totaling approximately 4.87 million ETH, or over four percent of the circulating supply.
- The SEC’s new DeFi regulations allow certain interfaces to operate without broker-dealer registration under specific conditions.
- Global open interest in ETH futures reached $16.37 billion, significantly above its fourteen-day average, with Binance seeing a daily increase of over ten percent.
- Funding rates on Binance turned positive at 0.015%, indicating rising long positions against the rally.
Ether’s recent performance is bolstered by clearer regulatory guidance from the SEC and increased corporate accumulation, as seen with Bitmine’s significant treasury addition. This shift is reflected in rising active addresses and improving demand metrics in the U.S.
With the ETH/BTC ratio breaking through resistance levels and corporate holdings increasing, Ether shows potential for continued upward movement as it trades above key moving averages at 0.0310. (Source)
