Ethereum’s 24-hour trading volume shows that derivatives are still doing the heavy lifting. Between the 10th and 17th of July, daily futures and perpetuals trading ranged from $39.5 billion to a massive $65.3 billion, completely overshadowing spot volumes, which barely nudged above $3 billion. Even on the 17th of July, with ETF-driven interest spiking, spot activity remained a small slice …
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