Coinglas Report: Crypto Investors Favor Bitcoin Over Ethereum

02/16/2023 00:03 • NFT Newsflash • 150 views

According to the report, according to the data of Coinglas, the total net exposure in the past 24 hours was US $170 million, of which ETH exposure was US $22.01 million and BTC exposure was US $38.58 million.

Over the past 24 hours, the whole network has sold out 170 million dollars

Interpret the above information:

The Coinglas report revealed that the total net exposure in the cryptocurrency market over the past 24 hours was recorded at $170 million. This could indicate that investors are still actively investing in cryptocurrencies despite the recent fluctuations in prices. From the report, it was observed that BTC exposure accounted for $38.58 million, while ETH exposure accounted for $22.01 million. This shows that investors favored Bitcoin over Ethereum in the previous 24 hours.

These figures appear promising for Bitcoin since it has been experiencing a bullish run in recent months, hitting new all-time highs. The growing institutional adoption of Bitcoin has also contributed to its success in the crypto market. On the other hand, Ethereum has seen a surge in demand from DeFi platforms, which has caused an increase in transaction fees and user adoption. Despite this, Ethereum’s market cap is still relatively low compared to Bitcoin’s, leading many investors to believe that it still has a lot more room for growth.

Understanding net exposure in the cryptocurrency market can provide insight into investor sentiment and the potential direction of the market. Net exposure is calculated by subtracting the number of shorts from long positions in a particular cryptocurrency asset. A high net exposure indicates optimism about the asset’s future, while a low net exposure shows a lack of confidence.

Overall, the Coinglas report presents a positive outlook for the cryptocurrency market. The significant net exposure recorded in the past 24 hours indicates that investors are still interested in investing in digital assets. It also suggests that Bitcoin is still the preferred choice for investors, given its relatively large market cap and growing institutional adoption. However, as the crypto market continues to evolve, it is possible that Ethereum could gain more recognition and investment as it continues to innovate and improve its infrastructure.

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Coinglas Report: Crypto Investors Favor Bitcoin Over Ethereum

Over the past 24 hours, the whole network has sold out 170 million dollars

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