Ethereum options trading volume hits record high in January

Earlier this month, the number of open options contracts for Bitcoin (BTC) rose to a record high. This suggests that traders are more interested in the cryptocurrency than ever, while the value of Ethereum (ETH) remained at lower levels for a while. That has now changed; The largest altcoin has now also set a record.

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Ethereum options are very popular

Data from The Block shows that Ethereum options trading volume has never been higher than it was last month – even though the month isn’t over yet. At the time of writing, the trading volume is $18.7 billion. That’s more than last December, when volume was almost $17.6 billion.

For Bitcoin the record was in December, for Ethereum it apparently took a little longer. However, not all standards are recorded in a protocol. That’s how it is open interest still significantly lower than at the time of recording, which also took place in December.

Open interest measures the number of coins or the amount, in this case in US dollars, that these contracts collectively represent. While this amount was around $9.4 billion in December, it is now around $6.0 billion. Traders are therefore more willing to actively trade the contracts, but less willing to hold them for a longer period of time.

Ethereum staking is also slowly becoming more popular

In addition to the trading volume of ETH options, the number of coins locked in the stake contract has also risen to a record high. Around 24.3% of all ETH is now contained in this smart contract. That sounds like a lot, but compared to some other networks it’s not that bad. For example, the values ​​for the Solana (SOL) and Cardano (ADA) networks are about twice as high.

Meanwhile, Ethereum price is largely moving sideways. This rose about 20% earlier this month but has now completely lost that return.


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