Binance Futures Trading Shifts to Bitcoin, Ether as Altcoin Share Falls to 47%
Summary
- Trading on Binance's futures market is shifting from altcoins to Bitcoin (BTC) and Ether (ETH).
- Over the past week, altcoins' share of Binance futures trading volume fell 16 percentage points to 47% from 63%.
- As Bitcoin and Ether futures trading gained share, activity in the futures market appeared to be concentrating in the largest cryptocurrencies by market capitalization.
Forecast Trend Report by Period
Trading on Binance's futures market is shifting away from altcoins and toward Bitcoin and Ether, Cointelegraph reported on Aug. 28.
Altcoins accounted for 47% of Binance futures trading volume, down 16 percentage points from 63% a week earlier, according to the report.
By contrast, the share of Bitcoin and Ether futures trading increased over the same period. The trend suggests futures activity is concentrating in the largest cryptocurrencies by market capitalization.
With altcoins' share of futures trading falling below half, investors' short-term trading preference appears to have moved toward Bitcoin and Ether.
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