Ethereum Breaks New Record Amid 13% Rally, Options OI Reaches $7 Billion

Written By Guest User

Ethereum breaks another market prior to end-of-year rally: Read the full article by: Arman Shirinyan

Key Points:

  • Ethereum is getting a historically high open interest increase in the past week with the current number at almost $1 billion over the last seven days. Along with that Matic and Luna have both seen 90%+ OI increase in the same time.

  • This is important to note because on Dec 31st at least 700,000 options contracts are set to expire. Traders use option contracts to trade price speculation as well as hedging the market. The ratio is around .047 which mean options traders are currently bullish.

  • Traders are bullish on ETH right now as a majority of investors are betting on the hitting $5000 which would be a new all time high. The current all time high for ETH is $4,880 which it reached no too long ago. If something happens that causes the market for ETH turns bearish it could cause a slight market correction due to a lot of possible liquidations.

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