Ethereum (ETH) Shoots to $2550 As ETH Options Interest Hit Record High

Ethereum (ETH) rally looks limitless at this point as the ETH price surges all the way to $2550 hitting its new all-time high. At press time, ETH is trading at $2513 with a market cap of $289 billion. The ETH price rally comes amid bullish on-chain indicators and rising daily active addresses.

As per the latest data from Skew Analytics, the Ethereum (ETH) Options open interest has touched an all-time high of $3.5 billion. Meaning, more and more investors are willing to open new positions in anticipation of the further price rally.

courtesy: Skew

At the current price point, Ethereum (ETH) has surged more than 225% year-to-date once clouding Bitcoin’s performance as BTC gained over 100% gains since the beginning of 2021. In fact, the ETH price rally over the last month has been more astounding.

ETH has added nearly $100 billion to its market cap just in the last 30-days. Also, with the recent rally, the ETH/BTC pair is bouncing strongly at the moment.

Rothschild Investment Corporation Scoops Massive ETHE Shares

In a recent SEC filing on Thursday, April 15, Chicago-based financial giant Rothschild Investment Corporation announced that it has acquired 265,302 shares of Grayscale ETH Trust (ETHE). Apart from this, Rothschild has also increased its position in the Grayscale Bitcoin Trust (GBTC) by over 20%.

The Grayscale Ethereum Trust (ETHE) now holds over $7.4 billion worth of ETH at the current price while the Grayscale Bitcoin Trust (GBTC) AUM is a massive $41 billion. The total assets under management of Grayscale Investments have surged past $50 billion.

As per several market analysts and CoinGape report, the Ethereum rally isn’t stopping anytime soon. The ETH price is likely to surge further and move past $3000 and above. The odds are clearly in favor of Ethereum at this point and as we saw all on-chain indicators are clearly signaling a bullish trend ahead. Make the most of the ETH price rally!

 

The post Ethereum (ETH) Shoots to $2550 As ETH Options Interest Hit Record High appeared first on Coingape.

Publication date: 
04/16/2021 - 06:06
Disclaimer

The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.