Ether derivatives smash milestones left and right as The Merge looms

Ether derivatives smash milestones left and right as The Merge looms

Trading in ether derivatives soared in August as traders bet on the Ethereum blockchain’s impending move from proof of work to proof of stake – a transition dubbed The Merge.

Ethereum’s big move to proof of stake was confirmed in August, with the final upgrades (Bellatrix and Paris) set for Sept. 6 and Sept. 10-20. The long-anticipated upgrade spurred derivatives traders as ether options and futures soared throughout the month. The Block identified in July that ether derivatives trading was surging ahead of the Merge.

Here’s a look at two of the most interesting milestones from our data dashboard.

Ether options open interest
Open interest in ether options surpassed bitcoin open interest for the first time in August, as ether hurtled past $8 billion to an all-time high.

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