ETH Options Data Suggest $500 Ethereum Price is Closer Than It Seems
Cointelegraph
Published Aug 16, 2020 07:10PM ET
Updated Aug 16, 2020 08:40PM ET
Open interest on Ether (ETH) futures grew by 250% over the past three months to reach $1.7 billion. This incredible build up occurred as the cryptocurrency broke the $400 resistance to reach its highest levels in two years.
Unfortunately, there is no way to ascertain whether futures contracts are mostly used for protection or are the result of increasing leveraged bets on Ether price reaching $500.
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Written By: Cointelegraph
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