Ethereum options volume rises to highest since May 2022

Ethereum options volume rises to highest since May 2022

Author: Robert Strickland (crypto expert)

Ethereum options volume rises to highest since May 2022
The number of contracts is rising ahead of the Shapella update, scheduled by the developers of the leading altcoin for April 12

Ethereum options volume rose to a 10-month high, according to The Block. The figure topped $14.2 billion in March, the last time it was above that mark was in May 2022 (then it reached $16 billion).

The increased interest is due in part to the pending Ethereum update called Shapella, which is scheduled for April 12. It will enable blockchain validators to withdraw funds previously blocked on the Net.

Right now, according to, more than 558,000 validators support the leading altcoin blockchain, and 17.8 million ETH ($32 billion) are blocked on the Web. The ability to withdraw these funds could lead to both increased liquidity in the market (if participants start withdrawing assets) and more validators and their contributions (people may be attracted to the ability to easily withdraw funds).

In anticipation of Shapella, traders are actively betting on the future price of Ethereum. In addition to the increase in options volume on cryptocurrency exchanges, the publication also notes this month an increase in open interest in Ethereum options on CME (Chicago Mercantile Exchange Group) to a record $143 million, with the volume of completed Ethereum options transactions lagging behind, signaling that traders are accumulating contracts in anticipation of an update.

Traders determine interest in underlying assets in the market, whether funds are sent into the asset by market participants or, conversely, withdrawn from it.

The Ethereum exchange rate does not show strong growth or decline before an important update. Altcoin price repeats the movement of the first cryptocurrency. Having risen to a local high of $1.82 thousand on March 29, the rate of ETH then declined. As of 11:30 a.m. on March 31, the asset is trading at $1.79 thousand.


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