Ethereum’s options open interest (OI) has recently surged to an impressive new record high, signaling a heightened state of market activity. According to on-chain analytics firm Glassnode, this surge indicates that Ethereum is experiencing increased participation from traders and investors looking to capitalize on its price rally. 13.75 billion dollars in outstanding options contracts mark the highest point this year, coming just shy of hitting the all-time record of $14.6 billion set back in March 2024. This high level of open interest suggests a growing number of players are actively engaging in derivatives trading and positioning themselves for potential future price movements.