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

Sun, 05/31/2020 - 14:59
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.
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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.

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).

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.

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.

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 (, Monoreto, Attic Lab etc.)

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