(HedgeCo.Net) Ethereum’s sharp underperformance against Bitcoin has become one of the most important warning signals in digital-asset markets, raising new concerns about leverage, liquidity and the health of crypto-focused hedge fund strategies. With Ethereum down roughly 35% against Bitcoin, the divergence is no longer a narrow relative-value story. It is a broader stress test for a digital-asset ecosystem that has become increasingly dependent on collateralized lending, decentralized finance,...
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