Ether’s (ETHThe 330% gain year-to date has been driven mainly by decentralized financing and non-fungible tokens. This is evident in the following: OpenSeaNFT Marketplace, which has the highest trading volume and surpasses $10 billion, is the most important.

However, traders fear that the 15% correction after the Nov. 10, $4,870 high could be a sign of a bigger bearish move. This is confirmed by the break of the 55-day ascending channel. The Nov. 19 expiry of $550 million Ether options will also favor bears.