Trading in Ethereum will increase by 90% to Bitfinex this year

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Upward sentiment among margin traders ether

In his Tweet On Thursday, Mati Greenspan, founder of Quantum Economics, highlighted the parabolic rise in ETH longs at Bitfinex. Except for a short period in February 2020, trading in long ETH margins on Bitfinex has increased significantly. In April, BeInCrypto reported that the percentage of ETH margin trading on the crypto exchange for derivatives was largely long.

Bitfinex ETH Longs at 90%

Source: Twitter

This is the apparent appetite for ETH’s long positions on the crypto derivatives exchange. The decline in February was answered with an upward correction of 600,000 ETH. These long positions have risen by around 150% since March. This increase can be seen despite the events of “Black Thursday” – March 12, 2020 – when the ETH price had a flash crash with a sudden drop of around 50%.

At the other end of the spectrum, short positions have also generally been on the rise since the beginning of the year and peaked on May 10th at 182,465 ETH. However, the TradingView data show a significant decline from this high and fell by around 56,000 ETH, around the same time that long trading increased by another 20,000 ETH.

ETH price over $ 200

Source: TradingView

In the meantime, ETH’s spot price was above $ 200 last Thursday to fully recover from the drop in prices on Black Thursday.



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As a leading blockchain and fintech news company, BeInCrypto always strives to comply with strict editorial guidelines and the highest journalistic standards. With this in mind, we always encourage and encourage readers to do their own research into the information provided in this article. This article is intended as news and is for informational purposes only. The topic of the article and the information provided may have an impact on the value of a digital or cryptocurrency asset, but is never intended. Likewise, the content of the article and the information contained therein do not intend and do not intend to provide sufficient information for a financial or investment decision. This article is not expressly intended as financial advice, it is not financial advice and should not be construed as financial advice. The content and information in this article have not been prepared by a certified financial professional. All readers should always conduct their own due diligence with a certified financial professional before making an investment decision. The author of this article may have any amount of Bitcoin, cryptocurrencies, other digital currencies, or financial instruments at the time of writing, including but not limited to those listed in the content of this article.



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