Kraken’s Open Interest Signals Ethereum Volatility Surge

Ethereum is poised for significant price swings according to data from Kraken, which reveals a record-breaking surge in open interest. Open interest on Ethereum contracts currently stands at 30,000 ETH, signaling the potential for both bullish and bearish movements. Alexia Theodorou, Head of Derivatives at Kraken, attributes this rise to growing institutional inflows into spot Ethereum ETFs. However, the market remains uncertain about whether these flows will drive prices up or down. The current positioning suggests anticipation of volatility rather than a clear directional consensus.