An unprecedented milestone has been reached in the cryptocurrency market as Ethereum futures trading volume surpasses Bitcoin’s on the Chicago Mercantile Exchange (CME). This shift is sparking speculation about an impending supercycle for Ethereum. Priyanka Jain, CME’s Director of Equity and Crypto Products, highlighted that Ethereum options volatility is currently higher than Bitcoin’s, drawing more traders and increasing futures activity. Open interest in ETH futures also reached its peak in July, exceeding BTC’s for the first time. Despite Bitcoin still holding a commanding lead in dollar transaction volume, participation in Ethereum derivatives is rapidly growing.