ChainCatcher Message, Deribit Asia-Pacific Business Head Lin Chen posted on X, stating that today's largest ETH block options trade involved a user paying $225,000 to purchase call options with a strike price of $4,000, expiring on January 10 next year, totaling 3,730 ETH.

Analysis indicates that the user is bullish; if the price at delivery is >$4,020, it will be profitable. Due to low liquidity last night because of Christmas, market volatility remains high, with the current DVOL volatility index at 73.6 and the ETH/BTC exchange rate at 0.0351.