{"id":469565,"date":"2021-08-18T18:00:14","date_gmt":"2021-08-18T18:00:14","guid":{"rendered":"https:\/\/wncen.com\/?p=469565"},"modified":"2021-08-18T16:14:15","modified_gmt":"2021-08-18T16:14:15","slug":"ethereum-oi-trading-volume-balloons","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-oi-trading-volume-balloons\/","title":{"rendered":"Back To The Futures: Ethereum CME Open Interest, Trading Volume Balloons"},"content":{"rendered":"<p><a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-larger-degree-correction\/\" target=\"_blank\">Ethereum has been slowing down on its bullish momentum.<\/a> The second cryptocurrency by market cap trades at $3,066 with a 4.2% loss in the daily chart.<\/p>\n<figure id=\"attachment_469581\" aria-describedby=\"caption-attachment-469581\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-469581 size-large\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Ethereum-ETH-ETHUSD-1.png?resize=860%2C495\" alt=\"Ethereum ETH ETHUSD\" width=\"860\" height=\"495\"><figcaption id=\"caption-attachment-469581\" class=\"wp-caption-text\">ETH moving sideways in the daily chart. Source:<a href=\"https:\/\/www.tradingview.com\/chart\/a4lKch7J\/?symbol=BITSTAMP%3AETHUSD\" target=\"_blank\" rel=\"nofollow\"> ETHUSD Tradingview<\/a><\/figcaption><\/figure>\n<p>After two weeks of profits and an incredible rally from the low at $2,000, <a href=\"https:\/\/wncen.com\/news\/ethereum\/ethereum-miners-revolt-over-eip-1559-how-will-eth-price-react\/\" target=\"_blank\">mostly driven by the implementation of EIP-1559, Ethereum could see some downside in the short term.<\/a><\/p>\n<p>The In\/Out of the Money Around Price (IOMAP) metric, used to measure the average purchase price of a crypto asset and compared it to its current price, from IntoTheBlock suggests Ethereum sits at \u201cstable support\u201d.<\/p>\n<p>Analyst Ali Martinez shared the chart below and indicated that over 230,000 addresses bought 7,33 million ETH between $2,970 and $3,080. Thus, <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-faces-rejection-3k\/\" target=\"_blank\">ETH\u2019s price<\/a> must hold above these levels to prevent a bearish trend in the short term. Martinez <a href=\"https:\/\/twitter.com\/ali_charts\/status\/25056004\" target=\"_blank\" rel=\"nofollow\">added<\/a>:<\/p>\n<blockquote><p>Any downswing below this price range could encourage investors to book profits quickly before their investments go &#8220;Out of the Money.&#8221;<\/p><\/blockquote>\n<figure id=\"attachment_469582\" aria-describedby=\"caption-attachment-469582\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-469582 size-large\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Ethereum-ETH-ETHUSD-3.jpg?resize=860%2C370\" alt=\"Ethereum ETH ETHUSD\" width=\"860\" height=\"370\"><figcaption id=\"caption-attachment-469582\" class=\"wp-caption-text\">ETH&#8217;s price IOMAP. Source: IntotheBlock via Ali Martinez<\/figcaption><\/figure>\n<p>One of the key drivers for Ethereum has been institutional adoption that sees great potential in its ecosystem. Additional data provided by Arcane Research suggests adoption is still on the rise with ETH-based derivatives on the rise.<\/p>\n<p>The research firm has recorded an increase in open interest (OI) for Ethereum futures on the Chicago Mercantile Exchange (CME). The <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-liftoff-3500\/\" target=\"_blank\">ETH trading volumes<\/a> have been gaining dominance and stand at around 30% of Bitcoin (BTC) and the open interest at 27%.<\/p>\n<blockquote><p>The OI of CME\u2019s EH futures currently sits at an all-time high of $650 million. The OI of the bitcoin futures sits at $1.8 bn but is down substantially from its Feb 18<sup>th<\/sup> peak of $3.3 billion. Ether futures now account for 26.5% of the total OI in CME\u2019s crypto futures.<\/p><\/blockquote>\n<figure id=\"attachment_469583\" aria-describedby=\"caption-attachment-469583\" style=\"width: 768px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-469583 size-full\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Ethereum-ETH-ETHUSD-4.jpg?resize=768%2C424\" alt=\"Ethereum ETH ETHUSD\" width=\"768\" height=\"424\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Ethereum-ETH-ETHUSD-4.jpg?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Ethereum-ETH-ETHUSD-4.jpg?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Ethereum-ETH-ETHUSD-4.jpg?w=750 750w\" sizes=\"(max-width: 768px) 100vw, 768px\"><figcaption id=\"caption-attachment-469583\" class=\"wp-caption-text\">Source: Arcane Research<\/figcaption><\/figure>\n<h2>Ethereum Takes Market Share Away From Bitcoin<\/h2>\n<p>The OI also suggests that institutions are \u201ceagerly\u201d building up their Ethereum (ETH) positions at the moment, Arcane Research said. Most likely, a consequence of the EIP-1559 and the expectations of future appreciation due to the network\u2019s new fee model.<\/p>\n<figure id=\"attachment_469585\" aria-describedby=\"caption-attachment-469585\" style=\"width: 758px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-469585 size-full\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/ETH-ETHUSD-1.jpg?resize=758%2C424\" alt=\"ETH ETHUSD\" width=\"758\" height=\"424\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/ETH-ETHUSD-1.jpg?w=758 758w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/ETH-ETHUSD-1.jpg?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/ETH-ETHUSD-1.jpg?w=750 750w\" sizes=\"(max-width: 758px) 100vw, 758px\"><figcaption id=\"caption-attachment-469585\" class=\"wp-caption-text\">Source: Arcane Research<\/figcaption><\/figure>\n<p>As the chart shows, ETH futures trading volume has been on a rise since mid-April 12 and only slow down during May and July\u2019s crypto market crash. During this time Ethereum went as low as $1,650 but was able to quickly recover both in price and in the aforementioned metric.<\/p>\n<blockquote><p>The daily trading volume of the CME ETH futures has also seen a significant uptick in market share recently. On Friday, Aug 13<sup>th<\/sup>, the trading volume of the ETH futures accounted for 33% of the total trading volume in CME\u2019s crypto futures. With the increased dominance of the ETH futures and the growing contango, a bullish sentiment around ETH among institutional investors seems to be brewing.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum has been slowing down on its bullish momentum. The second cryptocurrency by market cap trades at $3,066 with a 4.2% loss in the daily chart. After two weeks of profits and an incredible rally from the low at $2,000, mostly driven by the implementation of EIP-1559, Ethereum could see some downside in the short term. The In\/Out of the Money Around Price (IOMAP) metric, used to measure the average purchase price of a crypto asset and compared it to its current price, from IntoTheBlock suggests Ethereum sits at \u201cstable support\u201d. Analyst Ali Martinez shared the chart below and indicated that over 230,000 addresses bought 7,33 million ETH between $2,970 and $3,080. Thus, ETH\u2019s price must hold above these levels to prevent a bearish trend in the short term. Martinez added: Any downswing below this price range could encourage investors to book profits quickly before their investments go &#8220;Out of the Money.&#8221; One of the key drivers for Ethereum has been institutional adoption that sees great potential in its ecosystem. Additional data provided by Arcane Research suggests adoption is still on the rise with ETH-based derivatives on the rise. The research firm has recorded an increase in open interest (OI) for Ethereum futures on the Chicago Mercantile Exchange (CME). The ETH trading volumes have been gaining dominance and stand at around 30% of Bitcoin (BTC) and the open interest at 27%. The OI of CME\u2019s EH futures currently sits at an all-time high of $650 million. The OI of the bitcoin futures sits at $1.8 bn but is down substantially from its Feb 18th peak of $3.3 billion. Ether futures now account for 26.5% of the total OI in CME\u2019s crypto futures. Ethereum Takes Market Share Away From Bitcoin The OI also suggests that institutions are \u201ceagerly\u201d building up their Ethereum (ETH) positions at the moment, Arcane Research said. Most likely, a consequence of the EIP-1559 and the expectations of future appreciation due to the network\u2019s new fee model. As the chart shows, ETH futures trading volume has been on a rise since mid-April 12 and only slow down during May and July\u2019s crypto market crash. During this time Ethereum went as low as $1,650 but was able to quickly recover both in price and in the aforementioned metric. The daily trading volume of the CME ETH futures has also seen a significant uptick in market share recently. On Friday, Aug 13th, the trading volume of the ETH futures accounted for 33% of the total trading volume in CME\u2019s crypto futures. With the increased dominance of the ETH futures and the growing contango, a bullish sentiment around ETH among institutional investors seems to be brewing.<\/p>\n","protected":false},"author":535,"featured_media":458304,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[8323,1946,8686],"class_list":["post-469565","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-ethereum","tag-ethusd"],"acf":[],"yoast_head":"\n<title>Back To The Futures: Ethereum CME Open Interest, Trading Volume Balloons<\/title>\n<meta name=\"description\" content=\"Ethereum has been slowing down on its bullish momentum. 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/\",\"https:\/\/x.com\/rl_m\"],\"url\":\"https:\/\/wncen.com\/author\/reynaldomarquez\/\"}]}<\/script>\n","yoast_head_json":{"title":"Back To The Futures: Ethereum CME Open Interest, Trading Volume Balloons","description":"Ethereum has been slowing down on its bullish momentum. 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.","sameAs":["https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/","https:\/\/x.com\/rl_m"],"url":"https:\/\/wncen.com\/author\/reynaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Back To The Futures: Ethereum CME Open Interest, Trading Volume Balloons","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-oi-trading-volume-balloons\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-oi-trading-volume-balloons\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/ethereum-3818347_1920.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/ethereum-3818347_1920.jpg?fit=1920%2C1280"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Reynaldo Marquez"}],"creator":["Reynaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","ethereum","ethusd"],"dateCreated":"2021-08-18T18:00:14Z","datePublished":"2021-08-18T18:00:14Z","dateModified":"2021-08-18T18:00:14Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Back To The Futures: Ethereum CME Open Interest, Trading Volume Balloons\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-oi-trading-volume-balloons\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-oi-trading-volume-balloons\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/ethereum-3818347_1920.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/ethereum-3818347_1920.jpg?fit=1920%2C1280\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Reynaldo Marquez\"}],\"creator\":[\"Reynaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"ethereum\",\"ethusd\"],\"dateCreated\":\"2021-08-18T18:00:14Z\",\"datePublished\":\"2021-08-18T18:00:14Z\",\"dateModified\":\"2021-08-18T18:00:14Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/ethereum-3818347_1920.jpg?fit=1920%2C1280","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/469565"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/535"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=469565"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/469565\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/458304"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=469565"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=469565"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=469565"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}