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The world’s second biggest cryptocurrency has seen its popularity explode over the past few months, with its value gaining over $500 in a matter of days. This has led to a massive surge in the volume of trading which has increased non-stop over the past couple of months. This is an example of a small business blog post that a local restaurant/bar could create:
One of the most interesting aspects of cryptocurrency trading is the fact that it is not just a single currency trading market, but rather many different markets trading many different digital assets. A good example of this would be the popularity of different cryptocurrencies, such as, for example, Ethereum. As a result, there are many different markets for Ethereum, such as the Ethereum options market, which allows Ethereum traders to buy and sell Ethereum options.
Last week, Ethereum options volume exceeded Bitcoin options volume for the first time on the Deribit market for digital currency derivatives. Additionally, the trading platform recently launched a $50k ETH strike for March 2022, stating that the $50k call is gaining immediate momentum.
Ethereum options volume grows exponentially, $50K profit
When it comes to bitcoin derivatives (BTC), Deribit’s trading platform today accounts for the lion’s share of option volume. The cryptocurrency exchange also offers bitcoin futures and Ethereum options. Deribit’s Ethereum (ETH) options outperformed Bitcoin (BTC) options for the first time in the first week of May.
Skew Analytics data shows that while BTC was in 3rd place. May accounted for $880 million, ETH options accounted for $1.3 billion. Volume continued to pick up this week, with analyst firm Skew tweeting on Thursday about the staggering volume in ETH options.
Spot, futures and options activity in the Ether markets is at a record high this week, the research firm writes on Twitter. Options traders’ expectations for ether’s volatility relative to bitcoin are rising, Skeu added the next day.
On the 10th. Crypto-currency derivatives exchange Deribit said in May: ETH option flows now dominate BTC. And not just any quick money. Deribit has captured the most BTC and ETH options in terms of volume and open interest over the past six months.
Activity on all expiry dates, with Deribit listing an ETH Mar22 50k call (really!) that immediately triggered a buy. Overall, calls have risen to maintain/expand exposure; two-way put action is decent, but few discount the upside potential, Deribit adds.
Institutional investors lead Ethereum market, $5K deposits increase
Since Ethereum recently hit all-time highs in price on cash markets, traders and speculators have been focused on dominating the two main crypto assets.
The main digital asset, bitcoin (BTC), dominates the overall crypto economy ($2.29 billion) with 42.1% of market capitalization. Ethereum, on the other hand, has a dominance of about 19.8% at the time of writing.
The second-largest crypto asset by market capitalization is in a strong upward trend after the latest hard fork as it continues to prove its demand, Simon Peters, crypto asset analyst at multi-asset investment platform Etoro, wrote to Bitcoin.com News.
The number of decentralized applications on the platform continues to grow. Demand from institutional investors is driving the recent rise, with large buyers diversifying into this emerging asset class, and Ethereum is the next natural choice, Peters added.
In another tweet on the 11th. In May, Skew analytics noted that there is a lot of open interest in Ethereum (ETH) ahead of the $5k strike. Deribit also explained on its Twitter that Ethereum’s term structure is in backwardation and BTC is in contango.
The BTC term structure is in contango. One would expect this based on the relative movement of the RV. But BTC IV is rising, and following ETH on light volume. Either BTC is expected to move or the MM of the stock is expected to change, the exchange said.
What do you think of the $50k Ethereum options strike? Let us know what you think in the comments below.
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$50K call, $50K strike, $5K strike, backwardation, bitcoin options, BTC options, contango, crypto assets, Deribit, Deribit Exchange, derivatives, derivatives exchange, ETH options, Ethereum, Ethereum (ETH), Ethereum options, eToro, futures, Simon Peters, Skew analytics
Photo credit: Shutterstock, Pixabay, Wiki Commons, Skew Analytics,
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