From the data, since November 3, funds have clearly preferred ETH (from gray to green). This may be because the ETH/BTC exchange rate has a certain cost-effectiveness after the oversold, so some funds that missed the opportunity have entered the market to gamble on the rebound of the ETH exchange rate.
Since November 3, the funds have returned to BTC (from green to gray).
Based on the above data performance, the following points can be summarized:
Compared with BTC, ETH exchange traffic accounts for only 31.5%, which determines that in the general direction, ETH still cannot show a strong leading market like the previous cycle.
The on-chain activity has increased compared with the previous period, and some large funds have also participated in it, which has increased the number of transfers and transaction amounts simultaneously.
When the ETH/BTC exchange rate is oversold, funds will prefer ETH, and ETH's performance is relatively stronger at this time, or at least not inferior to BTC.
Official account of the residence: Yunzi Commune, Mianfei Jiaqun
When the exchange rate rises, the focus of funds will return to BTC, and the trend of ETH will be relatively weak. In general, funds will prefer BTC for a longer time.
