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NewsBTC 2021-09-03 19:00:49

As Ethereum Approaches $4k, On-chain Data Shows Rally Will Continue Even Higher

Even with Ethereum’s strong run where the coin has reached near $4k, on-chain data shows there is still more room for the bull rally to continue. Ethereum All Exchanges Taker Buy Sell Ratio Shoots Up As pointed out by a CryptoQuant post, the ETH all exchanges taker buy sell volume has shown a huge spike today. The Ethereum all exchanges taker buy sell ratio (or volume) is an indicator that shows the ratio between long volume and the taker seller volume. Now, common sense says, since every trade needs a buyer and a seller, how can there exist a difference between the two quantities? Well, to understand the concept of taker buy and sell volumes, the idea of taker and maker needs to be understood first. Quoting the CryptoQuant data guide: Taker: Taker trade refers to an order that is traded before going on the order book. All market order trades are takers. Maker: Maker trade refers to an order that goes on the order book (e.g. a limit order). These orders add volume to the order book, helping to ‘make the market’. When these takers buy ETH at the price set by makers, the amount of coins traded contributes to the taker seller volume. This volume is referred to as “seller” because it can drive the prices down. Related Reading | Why Bitcoin And Ethereum Could Be In Trouble As Derivatives Pressure Mounts On the other hand, takers selling to makers at the ask price can push the prices up, thus contr...

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