Ether options trading volume hits all-time high as price sits around $2,300
Ether options trading volume for the month of January is at an all-time high, according to data from The Block.There is a notable concentration of call options for ether with a strike price of $2,500 for the Feb. 23 expiry on Deribit.
The metrics from crypto derivatives exchanges indicate that the total trading volume for ether options has surged to nearly $20 billion in January, and there is still one day remaining in the month. Around $15 billion of this trading volume comes from activity on the Deribit derivatives exchange.
Data from Deribit show that the majority of ether options contracts outstanding are for calls at a strike price of $2,500, set to expire on Friday, Feb. 23. According to Deribit data , there are over 74,548 contracts outstanding for calls at the strike price of $2,500, with a notional value of around $172 million.
In options trading, a call option gives the holder the right, but not the obligation, to buy the underlying asset at a specified price before or on the expiration date.
The majority of ether options outstanding are for calls at a strike price of $2,500. Image: Deribit.
The presence of a significant number of call options at $2,500 indicates that a substantial portion of traders are anticipating an increase in the price of ether above $2,500 by the expiration date on the last Friday of February. However, the price of ether has fallen by almost 1% in the past 24 hours to trade at $2,294, according to The Block's Price Page .
The price of ether has fallen by almost 1% in the past 24 hours. Image: The Block.
Ethereum transaction volume hits multi-month high
There has been a significant increase in transaction volume on the Ethereum blockchain during the month of January, according to The Block's Data Dashboard .
Transaction volume on the Ethereum ETH -0.65% blockchain has surged to $102.9 billion for the month of January, with still one day remaining in the month. The gains represent a 5% rise in economic throughput on the network from December's volume of $97.82 billion.
The rise in transaction activity on the blockchain is significantly above levels seen in 2023 and in the later part of 2022. For instance, in September 2023, Ethereum network transaction volume hit a low of $49.12 billion.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Short-term growth fades, but the long-term AI computing power blueprint shines! Major clients ignite the ASIC super cycle, and Broadcom (AVGO.US) stuns with a $230 billion AI semiconductor outlook
Broadcom predicts that artificial intelligence chip sales will boom over the next two years, rekindling optimism about its ability to challenge Nvidia's dominance in this lucrative market. CEO Hock Tan stated during a conference call that AI chip revenue will double by fiscal year 2027 to approximately $115 billion, and then soar to $230 billion the following year.
Broadcom earnings call: AI revenue to double consecutively over the next two years to reach $230 billion, custom chip performance “matches GPUs while cutting costs by half”
Broadcom CEO Hock Tan emphasized that their next-generation custom chips developed for Google and OpenAI can match the performance of NVIDIA Vera Rubin under specific AI workloads, while costing only half as much as GPUs. Hock Tan stated that tens of billions of TPUs will be delivered each year in the coming years. It is expected that Anthropic will deploy 5GW of TPUs in 2027, potentially making the company Broadcom's largest chip customer that year.
Overnight U.S. Stocks | Oil price rally pauses after Trump reassures the market, major indexes rise broadly; Dell (DELL.US) surges over 15%
At the close, the S&P 500 Index rose 0.5% to 7,666.6 points; the Dow Jones Industrial Average increased by 0.6% to 53,061.95 points; and the Nasdaq Composite Index gained 0.5% to 26,217.83 points.
Crypto prices
More
