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Eye on ETH. We’ve pretty much focused on Bitcoin for the past few days. With the recent BTC rally reaching a standstill, perhaps it is time to finally spare a thought for Ether, which has quietly hit another all-time high above $2,700 on April 28, pushing its market cap over $310 billion — almost on par with the net worth of PayPal. Fundamentals are strong as well: Ether’s single-day spot volume reached a staggering $68 billion last week. Meanwhile, as the price of ETH continues to push to new highs, leverage on derivatives markets is surprisingly decreasing, demonstrating that the current rally is driven primarily by spot interests.