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CryptoQuant: ETH and altcoin trading activity rises
According to ChainCatcher news and CryptoQuant data, after the Bitcoin price broke through 120,000 USD, the landscape of the Crypto Assets market has changed significantly. The data shows that the price of Ethereum has risen by 170% from its recent low, only 23% away from the historical high of 4,871 USD. One of the main factors driving this surge is SharpLink's investment of 1.3 billion USD to acquire 438,190 ETH. The crypto assets derivatives market data shows that the trading volume of altcoins and Ethereum futures contracts has reached $22.36 billion, setting a new 5-month high. It is noteworthy that in centralized exchanges, the futures trading volume of altcoins and Ethereum accounts for 83% of the total, while the trading volume of Bitcoin futures accounts for only 17%.