Bitcoin and Ether lead in liquidation heatmap with over $335 million in rekt positions in the last 12 hours.
Increased interest in the three-dimensional options market suggests an influx of sophisticated traders in the crypto market.
BitMex founder Arthur Hayes speculated about SOL hitting near $100 in a bullish weekend for altcoins.
Futures and options market metrics suggest traditional finance players and sophisticated market participants may soon rotate money into ether from bitcoin.
Moving to an exchange could suggest the investor is likely to sell the asset for stablecoins or other tokens.
Ether is up 70% year-to-date, but NFT indexes are still down 16% in dollar terms and 50% when denominated in ether.
AVAX is up 8% in the last 24 hours, while bitcoin is trading below $36,500.
Fees spiked to as high as 270 gwei late on Thursday, the data shows, temporarily touching a level last seen in June 2022.
Bitcoin hit an 18-month high near $38,000 before pulling back sharply.