$ETH rally continues as whales start leveraging the second biggest cryptocurrency on the market
Whenever derivatives volume enters an uptrend, assets tend to rally more actively, and the volatility on the market spikes up. Starting from June 13, Ethereum's average daily volatility was moving around the year's low as Ether remained under-leveraged and traders were too afraid to support the second biggest cryptocurrency on the market.as investors started seeing more potential in the second biggest cryptocurrency after the massive network update came much closer.
In addition to the resurrected price performance of Ethereum, we are seeing a continuous migration of miners from the blockchain to alternative currencies, including Ethereum Classic, which recently rallied by 40% as investors believe that it will inherit the hashrate of Ether in the future.in terms of the performance of the market as Buterin's creation has beaten the digital gold by almost 30% since"The Merge'' rally began on the market.
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