diff --git a/charts/galoy-deps/Chart.lock b/charts/galoy-deps/Chart.lock
index c4108fce6e..ac705e3495 100644
--- a/charts/galoy-deps/Chart.lock
+++ b/charts/galoy-deps/Chart.lock
@@ -13,6 +13,6 @@ dependencies:
   version: 1.5.2
 - name: opentelemetry-collector
   repository: https://open-telemetry.github.io/opentelemetry-helm-charts
-  version: 0.87.2
-digest: sha256:1389803f7560d849571fa7f556050c167e9b93b077f440978677c044657f7912
-generated: "2024-04-16T16:01:48.847424525Z"
+  version: 0.89.0
+digest: sha256:7d7d82e4ca65c8d570ce13fc61c6d853763f7273d674c75e194429741cd57c44
+generated: "2024-04-19T16:47:52.356513508Z"
diff --git a/charts/galoy-deps/Chart.yaml b/charts/galoy-deps/Chart.yaml
index 2e18a104e3..ee2a0d46f5 100644
--- a/charts/galoy-deps/Chart.yaml
+++ b/charts/galoy-deps/Chart.yaml
@@ -39,5 +39,5 @@ dependencies:
     condition: kubemonkey.enabled
   - name: opentelemetry-collector
     repository: https://open-telemetry.github.io/opentelemetry-helm-charts
-    version: 0.87.2
+    version: 0.89.0
     condition: opentelemetry-collector.enabled