The two largest cryptocurrencies by market capitalization, Ethereum and Bitcoin, slowed down on their rally. Following a surge above critical resistance, the cryptocurrencies could retrace and return to critical support levels.
As of this writing, Ethereum (ETH) trades at $1,840 with sideways movement in the last 24 hours. Over the past week, ETH has recorded a 2% loss except for Bitcoin (BTC) and Solana (SOL), the crypto top 10 by market cap trades in the red.
Trouble Ahead For Ethereum?
Earlier today, the Chicago Mercantile Exchange (CME) announced the launch of a new product. The platform will roll out an Ethereum (ETH/USD) to Bitcoin (BTC/USD) ratio futures contract.
The financial product will follow the price of these cryptocurrencies and their correlation. In that way, traders can gain exposure to both cryptocurrencies by holding a single futures contract.
According to an official announcement, The product aims to create more opportunities for traders in the nascent industry. Ho
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