Expulsion of Ethereum option $ 2.4 billion can cause a rally

Key results:

97% of the ETH option will expire worthless if ETH is over 2,200 USD.
The implemented result of the ETH price may be narrow by macroeconomic factors and trade strategies that the ether gains.

On May 30, Ether (ETH) options $ 2.4 billion will expire – an event that can support ETH attempt to exceed $ 2700 for the first time in over three months. Despite the last profits, the ether fell by 21% in 2025, while the wider cryptocurrency market recorded an augment of 5%.

Ether bulls are motivated to maintain ETH above 2600 USD before a month. However, destitute network activity on Ethereum suggests that growth potential may be narrow.

Ether/USD (blue) vs. Total cryptographic (green) capitalization. Source: Tradingview / Cointelegraph

Analysts believe that Ether’s worse results result from growing competition among blockchains focusing on decentralized applications. Despite this, ETH has a key advantage as the only Altcoin offer with the offer of the stock exchange fund (ETF) in the United States. These ETF attracted $ 287 million net inflow between May 19 and 27, which reflects the increased interest of institutional investors.

Even as the demand for investment products based on ether, deposits and activities of Onchain in the Ethereum network has increased. This trend is particularly disturbing, because rivals, such as Solana, BNB Chain and Tron, are still gaining market share. Ethereum is no longer among the ten best protocols in terms of fees, causing the imbalance of supply, which contributes to inflationary pressure on ETH.

Sell (PUT) Options badly prepared for ETH prices above 2600 USD

*ETH options aggregate open interest, USD. Source:* *Laevitas.ch*

Although options worth $ 1.3 billion (buy) will dominate the expiry on May 30, this does not necessarily mean that these traders will reinvest in fresh stubborn positions. Many options strategies are associated with many maturity and are structured in a way that does not utilize ETH growing above specific thresholds. In addition, traders can secure their exhibition via Futures markets.

PUT (SELL) options worth $ 1.1 billion were clearly surprised because 97% were set at 2600 USD or lower. These contracts will expire worthless if ETH persists above this level at 8:00 UTC on May 30. Although this imbalance is unusual, a similar result may affect too positive connection options with the implementation prices of 2800 USD and more if ETH remains close to current levels.

Related: Sharplink launches the tax ethereum, knocks Joe Lubin as the chairman of the board

Below are four likely scenarios based on current price trends. These results will estimate theoretical profits based on outer interest imbalances and do not include intricate strategies.

From USD 2,300 to 2500: $ 420 million connections (buy) compared to $ 220 million in PUTS (sale). The net result promotes connections to $ 200 million.
From USD 2,500 to 2600: $ 500 million compared to $ 130 million, promoting connections by $ 370 million.
From 2600 to 2,700 USD: 590 million dollars of connections compared to $ 35 million, favoring connections by $ 555 million.
From 2700 to USD 2900: 780 million dollars of connections compared to $ 10 million, promoting calls by $ 770 million.

Bulls are strongly encouraged to cross ETH for 2,700 USD, but a wider context can replace these efforts. Considering the powerful correlation between cryptocurrencies and S&P 500, macroeconomic indicators and corporate earnings may remain the main forces shaping the appetite for the risk of investors – and ultimately the price of ETH at the time of the monthly options.

This article is used for general information purposes and should not be and should not be treated as legal or investment advice. The views, thoughts and opinions expressed here are themselves and do not necessarily reflect or represent the views and opinions of Cointelegraph.