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The price of Ethereum (ETH) jumped to $ 606 today, breaking the two-year record. Looking at the Ethereum monthly price chart, we see that the ETH / USD pair climbed 55% from November 1st to November 23rd. Part of this increase is due to individual investors and another important part to institutional investors. The record volume of the Ethereum option on the Delta Exchange points to exactly this.
Ethereum’s price saw $ 606
While the price of ETH before Ethereum 2.0 increased by 55% in the spot market, the volume of Ethereum options products on the Delta Exchange increased by 875%. Delta Exchange, active since August 2018, occupies an important place among the platforms of cryptocurrency derivatives.
When you look at the volume of Delta Exchange’s 24/7 Ethereum options product, you see that call options have increased by 877%. This shows that a volume of approximately $ 1.3 million has been achieved. So what are cryptocurrency based options and what does the ETH record call option volume on Delta Exchange mean?
What is an Ethereum option contract?
Option buy / sell contracts, used frequently in traditional markets, effectively allow investors to invest in the future. Investors may have the option to buy after a certain period of time through the option contract. For example, in a contract with a 1-month option, the investor can make a purchase by fulfilling this contract at the end of the term or when he does not see the price he wants, he can stop buying. The same is true for put options.
The record volume of ETH buy options shows that investors believe in the future of the second largest cryptocurrency by total market capitalization. Looking at the data transferred by Bybt, it was seen that the volume records were broken not only on Delta Exchange, but also on Deribit and other optional product platforms.
While Deribit has reached an option contract worth 1.41 million ETH, OKEx, struggling with problems, is in second place with a contract worth 167,000 ETH. The growing interest in ETH in option contracts and other derivative products is likely to affect the price in the long run.
