Ethereum

Expectations regarding ETH&#39;s volatility have risen as the Shanghai Upgrade draws nearer. However there have been recent reports that traders are beginning to take an interest in Ethereum.Recent data indicates that the aggregate number of traders purchasing call options on ETH started to increase, which indicated this. As of publication, more than 20,000 block call options were in trading. Inferring that lots of traders were placing bullish wagers on ETH.The sharp drop in implied volatility for ETH would be one explanation for the same. A measure of an underlying asset&#39;s anticipated volatility is implied volatility.The implied volatility for ETH has significantly decreased, which indicates that the market no longer anticipates significant price volatility for ETH in the near term. This highlights the fact that, in spite of the impending Shanghai Upgrade, the market is becoming more steady and less uncertain.But, interest in ETH wasn&#39;t simply limited to investors; according to data from glassnode, new addresses began to join the Ethereum network, reaching a record high of 95.89 million addresses.Importantly, a significant portion of addresses on the Ethereum network were previously unprofitable, but a significant portion of them are now. This could result in more selling pressure on ETH. Those with high profir may be more motivated to sell their investments.Well, following the Shanghai Upgrade, when the Ethereum that has been staked on the beacon chain becomes unstaked, it would be one factor that would counteract this selling pressure. Santiment&#39;s research shows that a significant portion of the ETH invested on the beacon chain remains unproductive.It is unlikely that the corresponding addresses will sell their shares once they have their ETH in hand. In fact, these addresses might HODL before deciding to leave for a longer period of time.

Ethereum [ETH] Becomes Traders’ Current Favorite Because of This Reason

ItsBitcoinWorld

Alte articole publicate pe 24 mar. 2023

Toshi Tools Launches Market Data App for Crypto Traders

NFT Collection CyberBabies.io Price, Stats, and Review

Metaverse NFT Trading Hits New High, Crypto Daily TV 24/3/2023

BlockFi Greenlight to Sell $4.7 Worth of Mining Rigs by Bankruptcy Court

Yellen Calls Unscheduled FSOC Meeting Amid Banking Turmoil

Legal Threats Instead of Reasonable Rules: SEC is Messing Around with Coinbase

Join our free newsletter for daily crypto updates!