I think you could reach the opposite interpretation, based on this: > You might argue that this is a pretty lightly traded product these days so the evidence i

I think you could reach the opposite interpretation, based on this: > You might argue that this is a pretty lightly traded product these days so the evidence is weak, but this product used to be one of the dominant ETH products and exhibited the same behavior. If in the past this was one of the dominants products, and now it is not, it could be because the market now cares _more_ than before about crypto-denominated wealth, and therefore stopped investing in it. Now, there are less people than before who prefer fiat-denominated. What are people trading these days mostly, and what does _that_ instrument tell in terms which denomination is preferred?