Ethereum Can Hit $3,000 In The Next 3 Weeks And Here is Why – My ETH Price Predictions 2021
Ethereum Futures Hits 3-Month Highs
Ethereum futures trading volumes hit 3-month highs
Open interest in options exceeded $ 250 million
Institutional investor interest has been growing since the beginning of the year
Ethereum futures and options trading volume has been growing this month, which was particularly evident last week. The rise in turnover and open interest indicates increased confidence in the market, especially in light of Bitcoin testing the $ 10,000 level for the first time since early June..
Ethereum futures trading volumes continue to rise, with the Skew platform hitting 3-month highs on July 25. Cumulative daily turnovers are nearly $ 6 billion, and the recent high is the top of a pattern that kicked off earlier this month..
The highest trading volumes are noted on Huobi and OKEx, but interest in futures can be traced on other exchanges..
Open interest in ETH options is also increasing, exceeding $ 250 million in the last week.
Over the past three months, the indicator has grown fivefold. The main open interest in options contracts is noted on the Deribit exchange.
Ethereum options trading volumes hit record highs this year, with most of the volume coming from Deribit and OKEx. In the end of May BeInCrypto editors reported, that, judging by the open interest, traders tend to trust the ETH token more than the BTC.
Bitcoin is trying to keep up
Skew also notes that BTC futures and options trading is also on the rise, with daily turnover reaching nearly $ 15 billion recently. Open Interest is just under $ 4.5B led by Binance, and daily trading volumes averaged around $ 400M over the past week..
Meanwhile, the volume of options continues to grow, which began a few months ago..
The aggregate open interest in Bitcoin options exceeded $ 1.5 billion. Deribit is also the leader in this category in terms of volumes and open interest, where the volume of option contracts over the past two days has exceeded $ 140 million..
Earlier this month, it became known that the Poloniex exchange announced the launch of a platform for trading bitcoin derivatives – new instruments are presented in the form of perpetual swaps with 100x leverage.
Institutional Investors in Business
Similar to stock futures, cryptocurrency futures contracts give traders the ability to place bets on the future Ethereum rate. It is a popular investment vehicle among institutional investors who are pouring record amounts into the digital asset market..
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Grayscale investments reported record quarterly capital inflows of $ 908.5 million in the second quarter, double the first quarter, which was also a record for an asset management company.
Most of the investors were hedge funds.
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