The Ether (ETH) to US dollar (USD) pair has attracted the largest number of traders between January and March 2022, according to trading platform Capital.com.
In its quarterly report, Capital.com noted that in 2021, the most significant number of traders was the Dogecoin (DOGE) to USD pair. Nevertheless, for the first time, the ETH/USD pair has taken the place for most traders within the trading platform.
The quarterly report noted that cryptocurrency trading volume is up 93% in the period under study. Despite the positive statistics, the report admits that revenue growth does not reflect broader market trends because the figure was reached due to some single-day volume spikes.
Capital.com has also highlighted that the market in general is currently in a state of disinterest. According to Capital.com Chief Analyst David Jones, bitcoin’s (BTC) downward trend from November to January has influenced retail traders’ interest in cryptocurrencies. Furthermore, the analyst mentioned that crypto traders are “herd creatures” driven by momentum.
After the high participation of investors in the month of January, the following months showed a decrease. In February, digital asset traders on the platform were down 16%. In the following month, the figure fell another 10%.
On Monday, the price of ETH approached the $2,000 mark, while BTC broke above $30,900. However, analysts noted that despite the rally, the uptrend in prices may end up being weaker than 2021’s mid-year performance. On the other hand, some analysts also noted that there is a possibility of a rebound to the $2,700 during the summer.
Meanwhile, the Ropsten testnet on Ethereum is moving towards proof-of-stake (PoS) consensus.. Ethereum developer Tim Beiko shared the news that on June 8, the Ropsten testnet will merge with a new Ropsten Beacon Chain that launched on Monday. After the transition, two other testnets called Goerli and Spolia will move to PoS before the migration for the Ethereum mainnet begins.
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