The trading activities also encompassed an uptick in both put and call sales and buys. This resulted in the closure of previous sell positions and an increase in short-term implied volatility. The latter suggests an anticipation of heightened price volatility in the near future.
This bullish trend in Ethereum contrasts with a CoinShares report that indicated $6 million outflows from the second-largest cryptocurrency. This occurred despite an overall optimistic sentiment towards Bitcoin causing inflows into altcoins.
In related news, Ethereum co-founder Vitalik Buterin reportedly saw weekly gains of $42 million. At the same time, MATIC, a digital currency, experienced a 4% slide. Polygon, a protocol and a framework for building and connecting Ethereum-compatible blockchain networks, introduced a new token contract on the Ethereum platform.
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Source: Cryptocurrency - investing.com
