Cryptocurrency prices diverged in November as Bitcoin and Ethereum closed the month at $58,158 and $4,687 (down 4.0% and up 10.1% since October), respectively.
- Bitcoin trading volumes into USDT continued to trend downward for the third month in a row, trading only 3.2mn BTC (down 20.7% from October and 27.8% from a recent high in August).
- BTC futures volumes fell in favour of ETH futures on the CME. In November, CME’s BTC futures volumes decreased by 30.5% to $48.8bn, whilst ETH futures increased 11.6% to $23.4bn in November.
- On the CME, ETH open interest averaged over $1bn for the first time in any given month. ETH open interest averaged $1.2bn (up 23.4% against October) while BTC futures increased 12.8% to $4.3bn.