Ethereum

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<a href="https://u.today/ethereum-dencun-upgrade-final-countdown-begins">Ethereum (ETH)</a> has shown significant traction in its derivatives market, particularly in the domain of options trading.&nbsp;
According to the latest data from QCP, the risk reversals for ETH's front date expiries have <a href="https://twitter.com/WuBlockchain/status/1767744947439165538">turned</a> negative.&nbsp;
<h2 id="are-ethereum-investors-getting-cold-feet">Are Ethereum investors getting cold feet?&nbsp;</h2>
This change suggests a growing concern among investors regarding the potential for a decrease in Ethereum's spot price.&nbsp;
Risk reversal, a metric used to gauge market sentiment, measures the difference in implied volatility between call and put options.&nbsp;
A negative figure indicates a market consensus leaning towards a future decrease in the underlying asset's value. There is heightened demand for put options as investors seek to hedge against potential losses.
Put options offer cryptocurrency investors a strategic tool to protect against or bet on the downturn of a digital asset's value. Should the market value of the cryptocurrency drop beneath the agreed-upon price (strike price), the investor has the option to sell the crypto at this higher strike price.
<h2 id="ethereum-s-current-standing">Ethereum's current standing&nbsp;</h2>
Over the recent period, there has been a 15.42% increase in trading volume, reaching $47.85 billion, alongside a modest 2.92% rise in open interest, amounting to $13.99 billion.&nbsp;
However, the options market has experienced a sharp decline in volume by 51.55%, settling at $320.63 million, according to CoinGlass <a href="https://www.coinglass.com/currencies/ETH">data</a>.&nbsp;
At the same time, options open interest saw a slight increase of 1.63% to $6.38 billion.&nbsp;
The current Ethereum price stands at $4,046, with fluctuations within a 24-hour range of $3,863 to $4,073.&nbsp;

Alarm Bells Ring as ETH Puts Soar

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