Skew: the volume of futures trading on the air is approaching a new record

The analytical company Skew reports that in recent days, the volume of trading in ether futures has grown significantly, and the record of may last year may be broken in the near future.

Recall that on may 19, 2019, the volume of trading in futures for the second cryptocurrency amounted to $5.45 billion. However, yesterday, February 27, the indicator only slightly fell short of the previous record – $5.2 billion was traded.

Among the exchanges, Huobi is the leader with a trading volume of $1.9 billion in ETH futures. In second place was the OKEx platform with $1.3 billion. Interestingly, despite the growing trading volume, the number of open positions has decreased since February 25.

Analysts note that during the fall of the cryptocurrency market on February 26, the price of bitcoin futures briefly increased by 0.7%, which indicates buyer pressure.

However, this did not prevent the ether from breaking through the key resistance at $229. Previously, it was assumed that if the rate of the second cryptocurrency falls below this mark, it can go up to $200.

Recall that on February 26, bitcoin futures worth more than $190 million were sold on the BitMEX exchange.