Over the past few weeks, Ethereumthe second largest cryptocurrency assets are on an upward trend, with an increase of over 44% each month, surpassing several major digital assets, including Bitcoin. ETH’s continuous upside performance is observed not only at its price, but also at multiple important on-chain metrics such as options open interest.
Record-breaking interest in Ethereum options
Ethereum continues to be strong beyond its main price mark of $4,000, following a notable upward trend. Meanwhile, the derivatives market is intensifying as ETH options have witnessed rapid growth in open interest (OI).
GlassNode, a leading financial and on-chain data analytics platform, recently shared Reportreveals that open interest in Ethereum options is surged to a new level. Such a huge growth of open interest has raised activity and expectations Investors and the trader.
The metric has now risen to a whopping $13.75 billion, marking the highest level (YTD) level of the year. According to the on-chain platform, it is $13.75 billion Open interest She’s shy of the all-time high of $14.6 billion, achieved in March 2024.
This milestone shows important speculation and strategic positioning ETH Price Trackmarket participants are increasingly adopting options to hedge risk, thus leveraging potential volatility. It also shows how Ethereum has developed as a speculative asset and as a fundamental component of the large cryptocurrency market.
Following the upward performance on Monday, ETH’s profit realization metrics also rose sharply. data What GlassNode shares indicates that daily perceived benefits have approached their previous peaks.
It is noteworthy that ETH Profit Realization (7D SMA) peaked at $771 million per day in July, which exceeded the December 2024 level. Meanwhile, during the post, ETH realized profits of around $553 million per day.
GlassNode highlighted long-term benefits ETH holder It is comparable to the level of December 2024. However, short-term ETH investors enjoy greater benefits than long-term holders, driving the ongoing bullish wave.
ETH odds reaching new peak increase
Ethereum and Positive activity on multiple key metricsmajor altcoins may be ready for a big leap in the short term. Several crypto analysts are hoping for a new, greatest rally ever before the current bull market cycle ends.
However, ETH can reach a new peak much faster than most analysts predict. Polymarket, the leading prediction platform; clearly That Ethereum could reach an all-time high of 57% by October this year.
This forecast could be driven by strong on-chain activities and increased institutional interest in Altcoin. Large organizations continue to win ETH at a rapid scale, with Bitmine Immersion leading the fees. Bitmine Immersion Now, after the latest purchase of 317,126 ETH, it owns 1.2 million ETH, making it the first company to own such a large amount in a strategic reserve.
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