Since the merge of Ethereum (ETH) has been awaited with bated breath by the crypto community, the network’s speculative action has skyrocketed.
מאַרק ינסייט שפּייַזער Glassnode דערקלערט:
"עטהערעום ספּעקולאַטיווע קאַמף האלט, מיט איבער $ 6.12 ב בוילעט אָפֿן אינטערעס פֿאַר רופן אָפּציעס. שטעלן אָפּציעס אַקאַונץ פֿאַר אַ פיל קלענערער $ 1.5 ב, וואָס מאכט אַ שטעלן / רופן פאַרהעלטעניש פון 0.25.
מקור: גלאַסנאָדע
Call options entail buying, whereas put options signify selling. Therefore, based on open interest being depicted in the ETH network, buying pressure outways selling, thanks to the much-anticipated merge event סלאַטעד פֿאַר סעפטעמבער 15.
Despite the merge being elusive for a couple of years, it is anticipated to be the largest software upgrade in the Ethereum ecosystem because it will change the consensus mechanism from proof-of-work (PoW) to proof-of-stake (POS).
Therefore, various experts and institutions believe this event will heighten Ethereum’s quest to be a deflationary asset.
For instance, American multinational investment bank Citigroup or Citi recently pointed out that the merge would slash the overall Ether issuance by 4.2% annually, making it deflationary, בלאָקקטשאַין. נייַעס געמאלדן.
Therefore, the merge seems to have made Ethereum be watched with a keen eye, given that transaction volume hit a monthly high. Glassnode stated:
“Ethereum Transaction Volume (7d MA) just reached a 1-month high of 80,910.738 ETH. Previous 1-month high of 80,814.148 ETH was observed on 02 September 2022.”
מקור: גלאַסנאָדע
Furthermore, Ethereum address activity has been scaling heights, with the number of addresses האלטן more than 100 ETH, recording an 18-month high.
מקור: גלאַסנאָדע
ETH was up by 6.7% in the last 24 hours to hit $1,622 during intraday trading, according to קאָונמאַרקעטקאַפּ.
With the Bellatrix upgrade having already set the ball rolling for the merge, it remains to be seen how the second-largest cryptocurrency plays out after this event.
בילד מקור: Shutterstock
Source: https://blockchain.news/analysis/ethereum-speculative-action-goes-through-the-roof-as-the-merge-edges-closer