Open interest in ETH derivatives hits record high

Open interest in ETH derivatives hits record high

A Different Take on OPEN INTEREST Analysis!


Open interest in ETH derivatives hits record high

  • Open Interest in ETHH Derivatives Broke All Records

  • The value of the ETH token approached the 2018 highs

  • Investors will actively invest in ETH, not bitcoin

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Open interest in ETH derivatives hits record high

Open interest in futures and options on Ethereum grew 28.6% compared to December. Highest demand for ETH derivatives recorded on Binance, OKEx and Huobi.

Investors believe in Ethereum

Open interest in ETH derivatives reached a record high. This is evidenced by the research of the analytical company The Block Research. According to the presented results, in the first week of January, open interest in ETH futures and options grew by 28.6% compared to December 2020.

“Ethereum futures peaked at $ 2.65 billion, up 28.6% from their peak in December. Binance remains the market leader with 23.8%, OKEx is in second place with 17.8%, and Huobi is in third place with 14.4%, ”the study said..

The highest open interest in ETH options was recorded on the Deribit exchange, which accounts for about 86.8% of the market, and the total volume of positions amounted to $ 1.22 billion.

The indicator of open interest in ETH futures and options began to increase immediately after the price of the token exceeded $ 800. Already at the beginning of this week, the ETH price approached the historical maximum of 2018 at the level $ 1432. ETH market capitalization exceeded $ 131 billion.

At the time of this writing, the price of ETH / USDT is $ 1119.

Ethereum whales accumulate tokens in anticipation of record growth

This behavior of investors was expected. At the end of last year, analysts from the investment company Grayscale announced that new investors will actively invest in ETH tokens..

Open interest in ETH derivatives hits record high

According to a Grayscale report, 17% of new investments in Ethereum Trust in Q3 2020 came from new institutional investors. The company noted that many large investors entering the cryptocurrency space for the first time need Ethereum, not Bitcoin..

This opinion is also shared by Messari analyst Ryan Watkins, who previously stated that investors would prefer to reinvest the profits received from the sale of bitcoin in ETH tokens..

“Forecast for 2021: in 2021, institutions will start investing in ETH. If you have already recognized bitcoin as a valuable asset, it is easier for you to take the next step and switch from BTC to ETH ”- wrote Watkins.

Since the beginning of the year, ETH investors have managed to transfer more tokens worth more than $ 22 million.


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