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ETH Options Open Interest Reaches Record High as ETH/BTC Breaks Out
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cryptonews.comThe aggregated open interest (OI) across exchanges in the ethereum (ETH) options market reached a record high on Wednesday of USD 7.76b, suggesting that more sophisticated traders are positioning themselves for major moves in the second largest cryptocurrency.
The USD 7.76b figure was recorded by crypto derivatives tracking site Coinglass as the highest ever, rising above the previous all-time high from May 12 this year of USD 7.4b.
The figure represents more than a doubling from USD 3.8bn just two months earlier, and shows that the options market is becoming a more popular way for traders to gain exposure to price moves in ETH.
ETH options open interest:
The record high comes at a time when many traders are expecting a sharp move higher in
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