However, what is intriguing is that institutional fear of missing out (FOMO) has yet to kick in, as noted by prominent market observers. Greeks.live, a cryptocurrency analytics platform, (formerly Twitter) to share insights on Ethereum’s recent performance. According to their tweet, the surge in ETH has not only propelled it to breach the $2,400 barrier but has also resulted in all major term IVs soaring to yearly highs.
Additionally, the daily volume (DVOL) spiked to 70%, reaching a level not seen since April. Analyzing options data, the tweet pointed out that the skew, a measure of the perceived distribution of potential price outcomes, has not followed the rally. This suggests that institutional traders are yet to fully embrace the FOMO associated with ETH’s .
As of the latest available data, Ethereum is currently priced at $2,380, reflecting a notable 6.49% increase in the last 24 hours. Over the past 30 days, ETH has experienced an of 18.88%. The trading volume of Ethereum has also witnessed a substantial uptick, rising by 84.35% in the last 24 hours and currently standing at $17.9 billion.
Despite the impressive gains, the subdued response from institutional traders has left the market speculating about the potential catalysts that could trigger their entry into the FOMO-driven rally. Whether this is a brief pause before a larger institutional influx or a sign of cautious optimism remains to be seen. The cryptocurrency market, known for its unpredictability, continues to be a source of both excitement and speculation as the year draws to a close.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
