Ethereum’s futures premium hit a 6 month low and noshitcoins says shifting macroeconomic sands and the growth of competing blockchain networks are pushing pro traders to feel bearish about ETH.
) price lost the $3,600 support on Jan. 5 as minutes from the Federal Reserve's December FOMC meeting showed that the regulator was committed to decreasing its balance sheet and increasing interest rates in 2022.
The concerning part of Vitalik's interview was the status of the Ethereum 2.0 upgrade, which is merely halfway implemented after six years. The subsequent roadmap phases include the"merge" and"surge" phases, followed by"full sharding implementation." When implemented, they will lead to an 80% estimated completion of the network upgrade, according to Buterin.
Due to network upgrade delays, worsening macroeconomic conditions and a 3-month long price correction, professional traders are clearly becoming frustrated and anxious.Quarterly futures are usually the preferred instruments of whales and arbitrage desks due to their settlement date and the price difference from spot markets. However, the contract's biggest advantage is the lack of a fluctuating funding rate.
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