Bybit’s November market report points toward Ethereum gaining traction as Bitcoin dominance fades.
Ether (ETH) outshined Bitcoin (BTC) in the cryptocurrency spot and derivative markets after the United States Nov. 5 presidential election and keeps gaining momentum, according to a Dec. 2 report by crypto exchange Bybit.
In November, Ether “gained significant traction against BTC, as reflected by the sharp drops in the ratio between their spot prices,” Bybit said in its November 2024 Volatility Review, co-created by market researcher Block Scholes.
Growing demand for ETH options also indicates “[t]raders are increasingly favoring ETH,” Bybit said in a statement.
