Cryptocurrency market on Ethereum (ETH) Focused on the Merge upgrade.
Important names in the market Merge ETH While commenting that it will be an important catalyst for the in-chain analytics firm glassnodecame from
Glassnode, which shared on its Twitter account, ETH He said that his traders believe the ETH price could rise above $2,200 and up to $5,000 ahead of the Merge, which is scheduled for mid-September.
Adding a chart to its share, Glassnode announced for the first time that its open position of $ 6.6 billion in Ethereum Bitcoin (BTC) He said he left it behind.
“For the first time in history, the short position in Ethereum is $6.6 billion, surpassing the $4.8 billion open interest in BTC.
This appears to be a result of ETH traders continuing to make clear and large investments in ETH ahead of the upcoming Merge merge.”
For the first time in history, $ETH Options Open Interest at $6.6B has surpassed $BTC Open Interest at $4.8B.
This appears to be a result of traders betting big with call options the Merge scheduled for mid-September.
Read more in our latest analysis👇https://t.co/hMma8TQtzw pic.twitter.com/dyOCgIcLpZ
— glassnode (@glassnode) August 8, 2022
Glassnode said investors were speculating about the price of ETH until September, but after September, futures and options were retrospective.
This situation makes investors feel for Merge. “Buy the rumor, sell the news” He stated that he showed that he was preparing for an event of this kind.
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