Cryptocurrency Traders Wishing For ETH

etherium

Ever since breaking the record in February, Ethereum (ETH) longs on Bitfinex have climbed by 170%.

Following the record reached near the end of March, the amount of ETH longs carried on climbing.

Even though the wider cryptocurrency marketplace posting price profits happened along with BTC recently. The number of open longs was still low for most cryptocurrency instruments when the cryptocurrency marketplace crashed in mid-March.

Cryptocurrency Marketplaces Dominated by ETH longs

After reaching record levels at the end of February, ETHUSD longs on the big cryptocurrency exchange Bitfinex climbed by 170%. March’s crash did not touch it on Black Thursday in the area of retracement in Bitfinex’ bulls.

The ETHBTC longs likewise shot up in recent times, but they have been doing so since the beginning of 2019.

Crypto traders are long-term ETH (and not a lot of other things)

Following a 50% increase from March 2019 until the beginning of this year, ETHBTC went up by 83%.

Altcoin Longs No More

When it comes to other cryptocurrency instruments, like some Ethereum killers, they have dried up in a significant manner since speculators bet on BTC halving and the upcoming ETH 2.0 overhaul.

One of the other top cryptocurrencies, Ripple, had its longs fall by 40% two days after the market crash. Following a weaker year-to-date price performance when compared to others.

A competitor to Ethereum, EOS, had its longs fall by 20% in mid-March, with EOSUSD long not managing to recover.

Crypto traders are long-term ETH (and not a lot of other things)

Tezos longs were riding high, over 450% from mid-February to mid-March. The crash jumpstarted a 70% fall in open XTZ longs.

Crypto traders are long-term ETH (and not a lot of other things)

BTC Longs Make Post-Halving Jump Up

BTC longs were very uncertain for the longest time and doubled over 4 weeks to the end of 2019. Before a 40% fall that took a month and started at Christmas.

Crypto traders are long-term ETH (and not a lot of other things)

Looking at the middle of the first month up until the crash, longs saw a fast recovery and a full retracement, and then the crash started a 20% fall in two days.

The BTC longs jumped by half at the end of April and then did a complete retracement by May 13.