Crypto Investors Step Up Bets Against Ether as ‘Merge’ Looms

Investors ramped up their bets towards ether, the second-largest cryptocurrency, on the eve of the Ethereum community’s massive software program improve slated for early Thursday morning.

The price of holding a brief place—a wager that ether’s worth will fall—within the perpetual futures market has risen forward of the improve, an indication that traders are more and more hedging their danger going into the community replace. So-called funding charges for ether perpetual futures, a type of futures contract that doesn’t have an expiry date, have been damaging for greater than a month, that means that merchants are paying a premium for pessimistic bets.