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On Monday, (ETH) experienced a significant increase in call options trading, with over 140,000 contracts traded, according to Greeks Live. Investors primarily purchased monthly options in the 1650/1700/1800 range, set to expire on Nov. 24. These trades represent a notional value surpassing $250 million.
The trading activities also encompassed an uptick in both put and call sales and buys. This resulted in the closure of previous sell positions and an increase in short-term implied volatility. The latter suggests an anticipation of heightened price volatility in the near future.
This bullish trend in Ethereum contrasts with a CoinShares report that indicated $6 million outflows from the second-largest cryptocurrency. This occurred despite an overall optimistic sentiment towards causing inflows into altcoins.
In related news, Ethereum co-founder Vitalik Buterin reportedly saw weekly gains of $42 million. At the same time, MATIC, a digital currency, experienced a 4% slide. Polygon, a protocol and a framework for building and connecting Ethereum-compatible blockchain networks, introduced a new token contract on the Ethereum platform.
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