Ethereum outperformed Bitcoin in perpetual contract trading volume, recording $90.82 billion compared to $82.93 billion for Bitcoin, indicating a significant increase in traders' interest in Ethereum, especially in the leveraged derivatives market. This surge often reflects expectations for impactful events such as network upgrades or the expansion of layer two solutions, making speculation on it more attractive in the near term. At the same time, this massive volume means high liquidity, but it increases the risks of liquidation if a sudden reversal in direction occurs. Most importantly, this shift raises a big question: Are we witnessing a period where Ethereum leads the market, or is it just a short speculative wave before Bitcoin regains dominance?
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