ETH trading volume overtakes BTC
ETH has seen $1.1 billion in trading volume on Hyperliquid over the past 24 hours, while BTC has only $805 million. Two addresses are using single orders of around $20 million to push prices on the order book, moving ETH by 10 to 20 basis points, while building up hundreds of millions of dollars in notional long positions on Papertrade.
I’d discount this kind of artificially driven volume by 30%; short-term outlook is bearish.
Reply 1 if you’re bullish, 2 if you’re bearish. How much of this volume do you think is real?
$ETH $BTC $HYPE
#Hyperliquid #Ethereum
ETH has seen $1.1 billion in trading volume on Hyperliquid over the past 24 hours, while BTC has only $805 million. Two addresses are using single orders of around $20 million to push prices on the order book, moving ETH by 10 to 20 basis points, while building up hundreds of millions of dollars in notional long positions on Papertrade.
I’d discount this kind of artificially driven volume by 30%; short-term outlook is bearish.
Reply 1 if you’re bullish, 2 if you’re bearish. How much of this volume do you think is real?
$ETH $BTC $HYPE
#Hyperliquid #Ethereum