Ethereum [ETH] surges dramatically since Shapella, but how long will the party last

Since the Shapella Upgrade, ETH's derivatives market became a beehive of activity. As per Kaiko, the trading on options market surged with call volumes comprehensively exceeding puts.

Since the Shapella Upgrade, ETH’s derivatives market became a beehive of activity. As per Kaiko, the trading on options market surged with call volumes comprehensively exceeding puts. Investors purchase calls when they anticipate an increase in the price of ETH.

Similarly, the demand on futures exchanges also increased as the Open Interest reached a multi-year high of over $6bn, just a day after the upgrade.Moreover, the funding rate, or the value required to hold bullish long or bearish short positions, was positive for ETH across most exchanges, as per data from Coinalyze. This added more strength to ETH’s bullish narrative.

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