Ethereum Options and Futures Hit Record Levels – Is ETH Back on Top?
The post Ethereum Options and Futures Hit Record Levels – Is ETH Back on Top? appeared on BitcoinEthereumNews.com.
Ethereum’s derivatives market hits a record high with $27 billion in open interest, signaling growing investor confidence. Optimism is fueled by Ethereum’s renewed interest in decentralized finance (DeFi) and potential regulatory shifts, with ETH prices following Bitcoin’s bullish trends. Ethereum’s derivatives market is buzzing as cumulative open interest in futures and perpetual contracts reached a record 6.32 million ETH, worth over $27 billion, marking a 17% increase this month, according to CoinGlass. This follows predictions discussed in a previous CNF update when Ethereum solidified its market position with key blockchain milestones. Ethereum-based applications now hold $65 billion in locked value, the highest since May 2022. Liquid staking protocol Lido dominates with over $32 billion, followed by Aave and EigenLayer. As shared in a recent tweet by IBC Group Official, if Ether Futures Hit Record Highs: Is a Bull Run Starting? ETHER FUTURES HIT RECORD HIGHS: IS A BULL RUN STARTING? Ether’s been on fire, up 15% since Nov. 20, flirting with $3.5K for the first time in months. Futures open interest has hit a wild $22B, raising some eyebrows. But here’s the thing—while there’s definitely some buzz, it’s… pic.twitter.com/zZ3yaCMBd7 — IBC Group Official (@ibcgroupio) November 27, 2024 Ether has been on fire, up 15% since Nov. 20, flirting with $3.5K for the first time in months. Ethereum’s on-chain activity, including fees, revenue, and wallet creation, has seen a noticeable uptick compared to earlier months, although it remains below March’s peak driven by ETF buzz. Ethereum also reclaimed its lead in stablecoin hosting, surpassing Tron with $60.3 billion in USDT. Broader Optimism Fuels ETH Sentiment, Will it Drive ETH Back on Top? Sentiment around Ethereum has improved alongside potential regulatory shifts in the U.S., following promises of reduced crypto oversight under president-elect Donald Trump. As previously discussed in a CNF update,…
Filed under: News - @ November 28, 2024 5:26 pm