Crypto Traders Are Longing ETH

The number of Ethereum (ETH) longs has continued to surge after breaking into all-time highs at the end of March.

Despite the broader crypto markets posting price gains alongside BTC in recent weeks, the number of open longs remains low for most crypto assets after plummeting during the mid-March crypto market crash.

Since breaking into record highs on Feb. 26, ETH/USD longs on major crypto exchange have increased by 170%. After increasing roughly 50% from March 2019 until the start of 2020, ETH/BTC longs shot up by a further 83%.

The trading activity surrounding other top crypto assets, including several altcoins, has dried up significantly as speculators bet on the Bitcoin halving and Ethereum’s forthcoming ETH 2.0 overhaul.