Bulls push Ethereum price higher ahead of Friday’s $930M options expiry

The last couple of weeks have been nothing short of a roller coaster for Ether (ETH), which oscillated between $2,000 and a record-high $2,650. The 20% crash on April 17 caused a $1-billion liquidation on long futures contracts, and it also drastically reduced investors’ appetite for risk.

Ether (ETH) USD price at Coinbase. Source: TradingView

However, as displayed above, the 28% gain over the last couple of days caused the open interest on Ether futures to reach $8.2 billion, which is just 5% below its April 15 record. A similar event took place in the options markets, which have grown by 45% since the March 25 expiry.

network Net Value Locked. Source: DeBank.com
April 30 ETH options at Deribit. Source: Laevitas.ch