Ethereum’s $2.4 billion options expiry could spark a rally
On May 30, $2.4 billion in Ether (ETH) options will expire, potentially aiding ETH's effort to surpass $2,700 for the first time in over three months. Ether is down 21% in 2025, while the broader cryptocurrency market has increased by 5%. Bulls aim to keep ETH above $2,600 before the expiry, but weak network activity may limit upside potential. Rising competition from other blockchains is impacting Ether's performance, despite its unique position as the only altcoin with a U.S. spot ETF, which attracted $287 million in inflows recently. Declining deposits and on-chain activity on Ethereum are concerning as competitors gain market share. The $1.3 billion in call options dominate the expiry, but many traders may not reinvest in bullish positions. The $1.1 billion in put options are primarily set below $2,600 and will expire worthless if ETH remains above that level. Macroeconomic factors and corporate earnings are expected to influence ETH's price at expiry.
