Ethereum’s Surprise Surge: Will 30K Kraken Interest Spark Crypto Volatility Blitz?

Ethereum Open Interest Peaks on Kraken, Hinting at Volatility

Key trends indicate Ethereum (ETH) might soon become more volatile. kraken, a major crypto exchange, reported an unprecedented high in open interest for Ethereum contracts.

According to Alexia Theodorou, kraken’s Head of Derivatives, the open interest recently hit 30,000 ETH. This suggests growing speculative activity around the second-largest cryptocurrency.

One possible reason behind this surge is an increase in institutional investments in spot Ethereum ETFs. However,Theodorou notes that the market direction is still unclear. the current setup seems to point toward rising volatility rather than a firm bullish or bearish stance.

“Funding rates are moderately bullish, but a clear direction hasn’t formed,” theodorou explained. “The long/short ratio is below its January peak.”

Nevertheless, there could be good news on the horizon. Pro-innovation regulatory changes in the U.S. might boost Ethereum in the coming months.

Ethereum Staking Reaches New Heights

Ethereum recently achieved another meaningful milestone. On June 10, staked ETH climbed to an all-time high of 34.65 million, accounting for 28.7% of the circulatingsupply.

B2BINPAY analysts link this achievement to spot ETF inflows as well. In the last 15 days, Ethereum ETFs saw positive inflows totaling $837 million. This could reflect growing institutional interest in Ethereum and other major altcoins.