Ether implied volatility has experienced a notable surge following spot Ether ETF approval news.
Ether’s (ETH) price took a swipe at $4,000 on March 23, briefly surpassing $3,890 before correcting as the result of $46.58 million in leveraged long liquidations. Following that rally, Ethereum futures open interest reached an all-time high of $17.09 billion on May 28.
Similarly, with the ongoing consolidation above $3,700, Ethereum futures open interest remains high at $16.1 billion, according to data from Coinglass.
Meanwhile, monthly trading volumes of Chicago Mercantile Exchange (CME) options on Ether futures reached an all-time high in May.