Solana Futures (SOL) on Chicago Mercantile Exchange (CME) was launched on March 17, and a commercial volume of $ 12.1 million on 1, which was not compared to the debut of Bitcoin (BTC) and Ethereum (ETH) CME Futures.
CME Crypto Futures comparison by Vetle Lunde. Source: x.com
Vetle Lunde, head of research in K33research, compared The difference between Bitcoins (BTC), Ether (ETH) and Solana (SOL) CME Futures Trading performances on the day of launch, and it is clear that the size of CME’s term contracts and opening interest in Sola are far below its competitors.
However, Lunde pointed out that if the standardized volume for market capitalization is rated, Prime Minister Sol “equalizes these two.”
Did Sol CMe Futures shot a misfire?
On the current bull market, the ETF spot approval and starting Futures CME contracts consistently augment the mood of investors and the wind behind the sails of various cryptocurrencies. Comparison of standardized volumes corrected for differences in market capitalization BTC, ETH and SOL on the first day of trade in Futures CME provides a fair comparative analysis.
The standardized volume measures commercial activities in relation to the market capitalization of cryptocurrency assets, offering a crystal clear assessment of various cryptocurrencies. This record is valuable because it allows you to understand institutional involvement in relation to the market capitalization of cryptocurrency assets.
Standardized volume comparison. Source: Cointelegraph
As shown above, bitcoins have the highest standardized volume with 0.0319%, while ETH and SOL remained behind from 0.0173%and 0.0166%, respectively. A larger normalized volume suggests higher interest in investors per unit or market capitalization for bitcoins.
In addition, the similarity between the standardized volume Eth and Sola (about 0.017%) indicates that the scale of trade activity is similar to Ether, despite the differences in a commercial volume of over $ 20 million on day 1 between ETH and Sol’s CME Futures.
Related: Solana removes “Cringe” advertising criticized for being a “deaf tone”
Will SOL CME Futures be in line with the ETH or BTC performance?
After Bitcoin CME Futures on December 18, 2017, BTC fell by 26%, falling from $ 19,000 to 14,000 to December 31, 2017. The correction lasted until 2018, marking the beginning of the collective market of cryptographic bears.
Starting Bitcoin, Ethereum and Solana CME, price reaction. Source: Cointelegraph/TradingView
The ether price registered a rally of 150% to the up-to-date highest all time in the amount of USD 4,384, 93 days after starting Futures CME on February 8, 2021. After the up-to-date highest all time, there was a keen correction, but Altcoin was approaching again at the end of 2021.
Considering Bitcoin and ETH price trends, the price of Sola can experience a less enthusiastic rally. Lack of price movement after starting Futures CME suggests the lack of emotions of investors.
However, from a long -term perspective, the presence of salt in CME increases the possibilities of liquidity and discovery of salted prices, because it attracts institutional commitment. The broader impact can potentially develop over time, because better market conditions and favorable stubborn prices and forecasts of revenues from protocols attract the interest of traders.
Related: Bitcoin stalls below 85,000 USD – Key BTC price levels to be viewed before FOMC
This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.
