On-chain analysis platform Glassnode released data showing that the price of ETH short-term options has risen sharply in the past 48 hours, with 1-week IV rising from 65.2% to 79.0% and 1-month IV rising from 66.4% to 72.1%. The analysis believes that this steepening volatility term structure reflects the increasing demand for short-term protection or upside risk exposure in the short-term outbreak of ETH prices.