Traders' requests indicate a significant increase in purchasing activity, according to Amberdata. Investors expect ether to grow in the medium term. The optimism of market participants is caused by the expectation of the imminent launch of exchange-traded funds on ETH, analysts say.
Representatives of Amberdata believe that institutional investors, hedge funds, and large market participants are confident that the ether exchange rate will demonstrate significant volatility in early autumn 2024. Demand for ether-based exchange-traded products will initially be small, but then capital inflows into ETH-ETFs will increase as new investors enter the market.
A call option gives the buyer the right to purchase an asset at a fixed price on or before a predetermined date, and creates an obligation for the seller to sell the asset upon receipt of a request.
Earlier, Andrew Kang, co-founder of the venture capital company Mechanism Capital, said that the ether rate could fall by 30% immediately after ETH-ETFs are approved.