Ethereum (ETH) Contracts Spark Interest and Volume Skyrockets on Deribit, Skew Analysts Say

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Sun, 05/31/2020 - 14:59
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Vladislav Sopov
The Ethereum (ETH) derivatives markets react to bullish price trends demonstrated by the second crypto. It involves the trading volume and sparking interest.
Ethereum (ETH) Contracts Spark Interest and Volume Skyrockets on Deribit, Skew Analysts Say
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According to the statistics revealed by analysts at Skew, Ethereum (ETH) and its trading derivatives sets numerous records simultaneously.

Ethereum (ETH) Attacked on Multiple Fronts

Today, the analytical group Skew, which address in-depth research involving cryptocurrency derivatives, reported that the Ethereum (ETH) options trading volume on the Deribit Exchange reached an insane level of $20M yesterday.

Ethereum (ETH) options skyrocketed on Deribit
Image via Twitter

By comparison, the average volume level of Ethereum (ETH) options on the Deribit Exchange is almost nine times less.

The open interest amount for Ether positions also went through the roof yesterday. Within one week, it broke above $110M twice. In the early days of May, the Ether positions was as low as $48M (in equivalence).

Ethereum option OI and Volume surging on Deribit
Image via Twitter

All of these figures are drawing increased attention for Ethereum (ETH) futures. In turn, this could be attributed to the bullish dynamics involving the price of Ethereum (ETH). According to the analytical portal Coingecko, Ethereum (ETH) surged 27% in the last ten days.

Indicators Speak in Favor of Bulls

Some more interesting indicators support the Ethereum (ETH) price rally. For instance, Skew analysts reveal that the risk of volatility for Ethereum (ETH) is trending downwards.

Negative skew indicates risk of volatility now seen to be on the upside
Image via Twitter

Right now, Ethereum (ETH) is also trying to break above the psychologically important figures of the Bitcoin (BTC) trading pair. Since January, this is the third time that the Bitcoin (BTC) bulls tried to stop the price of Ethereum (ETH) at 0.025 BTC/ETH.

Ethereum (ETH) is among the best beneficiaries of the short 'altcoin season', which was announced by a community disappointed with Bitcoin (BTC) refusing to go parabolic after its fourth epoch start.

So, if Ethereum (ETH) manages to reclaim its $250 level, this may lead to new trading records.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250

News
Fri, 01/15/2021 - 18:02
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Vladislav Sopov
Ethereum 2.0 enthusiasts deposited whopping sum in its contract launched six weeks ago
2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250
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While crypto markets are trying to get out of the most painful correction in this bullish cycle, the Ethereum 2.0 deposit contract accomplishes another crucial milestone.

ETH2 deposit contract surpasses $3,000,000,000 level

According to leading Ethereum network observer Etherscan, the Ethereum 2.0 deposit contract (0x00000000219ab540356cBB839Cbe05303d7705Fa) allocated more than 2.5 million Ethers. New 32-ETH stakes are transferred to it every minute.

ETH2 deposit contract breaks above $3B
Image by Etherscan

As the correction of the Ethereum (ETH) price ended, ETH is changing hands at $1,225: the $1,250 level was too difficult for bulls to conquer. Meanwhile, even at press time, it is worth almost $40,000 to join the club of Ethereum 2.0 stakers.

Therefore, the USD-denominated value of assets locked in the contract surpassed $3 billion for the first time ever and keeps surging.

It should be noted that Ethereum 2.0’s deposit contract went live on Dec. 1, 2020, heralding the start of ETH2 Pase Zero or Beacon Chain, the inaugural stage of Ethereum 2.0.

Ethereum 2.0 “entry tickets” become really expensive

At press time, more than 52,267 addresses transferred money to the deposit contract.

Ironically, Black Thursday in Crypto (March 13, 2020) was the most convenient time to join Ethereum 2.0 staking with Ether at $95. Today, Ethereum (ETH) enthusiasts should pay 13 times more to have a minimum amount of Ethers required for staking.

Ethereum 2.0 is a proof of stake (PoS) iteration of the Ethereum (ETH) protocol. It replaces mining by staking and splits the whole Ethereum (ETH) network into several interconnected sub-chains (shards).

According to Staking Rewards analytical dashboard, annualized rewards for ETH staking are estimated between 10.4 and 10.6 percent.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)