Ethereum’s been on a roll lately, climbing over 44% in just one month! It’s outperforming even Bitcoin, and it’s not just the price that’s exciting. The options market is booming too.
Record-High Open Interest
The amount of open interest in Ethereum options has skyrocketed. Open interest is basically how many options contracts are currently outstanding – a good indicator of market activity. It’s hit a whopping $13.75 billion, its highest point this year! That’s just a hair below the all-time high of $14.6 billion set in March 2024. This shows tons of investors are betting on Ethereum’s price going up or down.
Profits are Soaring
Ethereum’s daily profits are also way up. Data shows daily realized profit is nearing its previous peak. Short-term investors are making a killing, even more than long-term holders.
Ethereum’s Next Big Move?
With all this positive activity, many think Ethereum is about to hit a new all-time high. One prediction platform gives it a 57% chance of doing so before October! Big companies are also piling into Ethereum, with Bitmine Immersion now holding a staggering 1.2 million ETH – more than anyone else.
The future looks bright for Ethereum!