Ethereum (ETH) has become a favorite among traders. Expectations about the volatility of ETH have increased as the Shanghai update approaches.

👁‍🗨 Ethereum (ETH) has become a favorite among traders. Expectations about the volatility of ETH have increased as the Shanghai update approaches. In addition, network indicators show that traders are beginning to show interest in Ethereum.

‼️ Recent data show that the total number of traders buying call options at ETH has started to increase. At the moment, there were more than 20,000 call block options in the bidding process, suggesting that many traders had bullish bets on ETH. One explanation for this may be a sharp drop in the implied volatility of ETH. The measure of expected volatility of the underlying asset is implied volatility. The implied volatility for ETH has decreased significantly, indicating that the market no longer expects significant volatility in ETH prices in the near future. This highlights the fact that despite the upcoming Shanghai upgrade, the market is becoming more stable and less uncertain.

💬 In addition, Glassnode also announced this morning that the number of non-zero ETH addresses reached a new ATH value of 96.039.880. We are waiting for further news. It is important to note that a significant part of the Ethereum network addresses were previously unprofitable, but now the distribution has changed. This can lead to increased pressure from ETH vendors. Those with high returns may be more interested in selling their investments and fixing profits. After the Shanghai update, when the Ethereum that was delivered in the beacon chain becomes free, this will be one of the factors that will counteract this pressure from sellers.