Ethereum traders have deposited a whopping $600 million into exchanges as the price rally of ETH surpasses that of BTC. This surge in deposits indicates a growing interest and confidence in Ethereum among traders. Ethereum, the second-largest cryptocurrency by market capitalization, has been experiencing a significant price rally recently, outperforming even Bitcoin.
The increased activity in Ethereum trading is a clear sign of the bullish sentiment surrounding the cryptocurrency. Traders are showing a strong belief in the potential for further price increases in ETH, leading them to deposit a substantial amount of funds into exchanges.
This surge in deposits also reflects the growing popularity of Ethereum among investors and traders. As the price of ETH continues to rise, more traders are looking to capitalize on the upward momentum by increasing their exposure to the cryptocurrency.
Overall, the influx of $600 million in deposits into exchanges is a positive sign for Ethereum and indicates a strong market demand for the cryptocurrency. Traders are betting on the continued price rally of ETH, demonstrating their confidence in its long-term potential.