Ethereum Whale Activity: Massive Call Options Dominate Over 40%

  • Ethereum whale activity has Increased.
  • The Ethereum market is experiencing increased options trading, growing institutional interest, and continued bullish sentiment, with whales holding onto their positions.
  • The involvement of large institutional players like BlackRock and the narrowing discount on Grayscale’s Ethereum Trust further highlight positive market dynamics.
  • However, as with any market, caution is advised, and market participants should stay informed about potential risks and changes in sentiment.

 

Massive Call Options Dominate Over 40%

The Ethereum (ETH) options market has seen a surge in heavy call option trading.

ETH 1D graph coinmarketcap

According to CoinmarketCap, ETH is up 1.58% on the day to $2090. That’s up 9.80% from seven days ago and a whopping 35% from a month ago.

The price of ETH has seen tremendous growth in recent days, with global asset manager BlackRock recently filing to launch an ETH Spot Exchange Traded Fund (ETF).

Greeks live
Greeks live

 

According to crypto options analytics firm Greek.live, “block trades of call options worth around 60,000 contracts accounted for 40% of the total ETH options volume.
The notional value of these traded options is estimated at around $120 million. Notional value is the total value of the underlying asset in a derivatives contract.

The lion’s share of ETH options volume was accounted for by call options expiring in December. The largest single order was worth around $50 million.

Ethereum Whale Activity

The big bull whales seem to have taken advantage of the October long position.

Greeks Live said:
“In this bull market, several giant whales established long positions in October and gained more profit, and now the bull market is still in place and the giant whales still haven’t closed their positions and continue to be long.”

 

Santiment

“The whales – bitcoin (BTC), Ethereum (ETH), Cardano (ADA) and Chainlink (LINK) – have all seen their highest levels of activity in the past six months,” says blockchain analytics firm Santiment. ETH in particular is up around 14% in the past week.

“We may see some profit-taking at the end of the week, but this is not necessarily a sign that a top is imminent,” Santiment said.

Grayscale Ethereum discount shrinks

The Grayscale Ethereum Trust (ETHE) discount has narrowed to -13.95%.

Grayscale

The discount rate is a measure of how much a fund or ETF is trading below its net asset value. It is a metric used to determine how much a stock has fallen from its actual asset value.
ETHE’s discount narrowing has been in full swing since mid-June, when BlackRock, the world’s largest asset manager, filed for a spot bitcoin ETF.

 

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