#Ethereum futures have reached their most bearish level in seven months. Ether’s yearly premium has dropped from 20% on Oct. 21 to a paltry 2.5%. Usually, In healthy #markets, #futures should trade at a 5%–15% yearly premium.

The #crypto market has been going through a downward trend with a sharp decline in prices since the beginning of this year.
The total value of global crypto #markets reduced from $3 trillion to $938 billion with a sell-off in #bitcoin and other major currencies.

The exchanges, #NFT, #Gaming, #Memecoin, #DeFi, and other #crypto sectors have seen a drastic drop— by as much as 60% to 80%, respectively.


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