Ethereum network is presently at a transitioning stage, with the soon to begin POS and small institutional acceptance emerging. The ecosystem is combining and putting in place more functionalities to bring to use more of its technology’s use cases. More boom is expected in the next few months, with London going live yesterday this boom is sure to come.
Over the last couple of days, the Ethereum spot market have gained more attention and registered high trading volume. The more exciting news is that, the indication shows that future market is following same pattern. Report from August 5 shows Futures trading hitting a monthly peak. It won’t be surprising if the Ethereum Futures takes lead in the next bull-run.
Analysis has shown that over the last 24 hours, $6 billion volumes rise had been realized on Binance exchange alone, with other major exchanges recording high values as well. Noting there’s an open interest on all exchanges peaked too. High Open interest is an indication that there are more contracts still open, implying that participants are watching the market with keen-interest.
From every indication, there are more people looking forward to a price hike, more than a fall. Volume calls are higher than puts. The previous days alone, have seen 9955 DBT hedging for Ethereum’s price to go up to $50,000 by March 2022
Though ETH/BTC gained volatility spread noted a small hike on the three-month chart, it is seen notable because of the continuous rise in BTC’s price. Ethereum price is on its rise to the BTC.
Even though there’s minor corrections on the chart of ETH, the rise in future volume is a sign of a promising boom market.
