The aggregate daily volume of ETH futures has exceeded $4.5B for the first time since June 27, 2019, coinciding with the rise in ETH price from $160 to $280 (+70%).
According to data provided by Skew Markets, volumes have increased significantly over the last 3 weeks, from $750M to $4,500M.
This rise in both volumes and prices shows investors are again interested both in Ethereum and altcoins in general, as a large number of cryptos are built on ETH's ERC-20 standard.
Skew Markets cofounder and CEO Emmanuel Goh said:
"It seems the market has been gradually warming up and willing to revisit altcoins this year after a long sequence focusing on bitcoin and upcoming halving."
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