Ether spent most of 2024 trailing behind its cryptocurrency peers but has now firmly joined the rally sparked by bitcoin’s record-breaking climb, crossing the $4,000 mark in December but well below its all time high of $4,900.

In 2024, ether gained around 53% compared to bitcoin’s 113% surge; however, ether’s recent performance shows promise. Since the U.S. election result, ether has increased 39%, outperforming bitcoin’s 35% gain and signaling a potential resurgence driven by market optimism over president-elect Donald Trump’s anticipated pro-crypto policies.

Other key factors driving this optimism include robust staking dynamics, steady transaction fees and growing institutional interest, particularly through ETFs.

While the year started with muted volume, CME ether futures were the go-to product for risk management as spot ether ETFs began trading mid-year and volatility returned to the market toward year-end. In 2024, nearly 12 million contracts representing a total value of $256 billion traded between ether and micro ether futures. Thirty-nine percent of notional volume traded was transacted in Q4 2024 as the crypto markets reacted to the U.S. election results, signaling a buoyant sentiment.

Large open interest........

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