Ethereum has taken one step further to overtake bitcoin in yet another metric, and that is the amount of open interest in the asset.
Open Interest Flips BitcoinNew data from Glassnode has shown an interesting development when it comes to the open interest in both Bitcoin and Ethereum options.
Bitcoin, on the other hand, continues to trend around normal levels with $4.3 billion in open interest.
With also more than $2.6 billion in Call options and a Put/Call Ratio of 0.26, Ethereum investors are showing their hand and it is very bullish.
Ethereum Merge Drives InterestThe major culprit behind the recovery in the price of ETH had been the upcoming Merge.
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