This month, the trading volume of Ethereum futures reached a record level, according to The Block's Data Dashboard. On major derivatives exchanges, the trading volume hit $17.9 billion, and this figure is expected to increase further.

According to information from GrecsLive, the expiration of options on several decentralized platforms occurred on Friday at 3:00 AM Eastern Time. The open interest ratio was Ut-Call 0.1. This aligns with The Block's assessment, which reported that the Call to Put option ratio on the Deribit platform dropped by 0.3. A ratio below 0.7 is considered a strong bullish signal.

Deribit representatives emphasized that a significant expiration of options at a strike price of $2350 will occur on February 16 this year. Despite challenging weeks for the leading altcoin, Ethereum's quotes attempted to break through the $2700 area on January 12, but by January 23, the coin fell to $2168. Near this area, the price found strong support, followed by a local upward impulse, indicating buyer activation.

Experts note that it's difficult to predict how long the bullish trend will last. It's important to mention that renowned investor Peter Schiff suggests that the flagship of the crypto market could reach $10 million, despite his critical stance on Bitcoin. Schiff believes that rising inflation could benefit the leading digital coin, and more investors are acquiring BTC for long-term portfolio holding.