Title: “Ethereum’s OI Decline Sparks Price Rebound and Market Relief”

Jun 20, 2024

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Ethereum’s OI drops $2B, indicating traders closing positions


Ethereum’s open interest (OI) has dropped by $2 billion, signaling traders closing their positions and providing relief to the market. Spot prices have rebounded to $3,599 with increased volatility.


Ethereum’s open interest (OI) has seen a significant decrease from $13 billion to $11.5 billion, indicating a cooling-off period as traders close positions. The recent rebound in spot prices and increased implied volatility suggest a complex market dynamic at play.

Main Points

Prominent analyst Burak highlighted the drop in OI, which followed a sharp correction after a previous spike. Ethereum spot prices have rebounded from $3,400, accompanied by a rise in implied volatility for near-term options contracts. Implied volatility for Ethereum ATM options has remained elevated post-SEC approval.


Amid market fluctuations, ConsenSys’ announcement on Ethereum 2.0 closure signifies a significant milestone for the Ethereum network. Despite a 2.11% surge in price to $3,599, trading volume has declined, emphasizing the importance of closely monitoring regulatory changes and technological advancements in the Ethereum ecosystem.