In June 2023, the cryptocurrency market witnessed a tempestuous period of increased volatility, particularly in Ethereum (ETH). However, the storm appears to have passed, as indicated by the implied Risk-Neutral Density (RND) derived from option prices. Recent days have shown a decline in volatility, bringing market risk metrics back to more moderate levels.

ETH price increased, but has weathered the storm of heightened volatility, and risk metrics are now returning to a state of moderation. The implied RND derived from option prices reflects a market that is stabilizing, providing traders and investors with greater confidence in their decision-making.