April 17, 2021

Ethereum season? ETH options traders are placing big bets for June

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The price of Ether (ETH) is continuing to rally, reaching $2,000 on Friday on the back of strong technical momentum following a high-profile announcement from Visa.

As Cointelegraph previously reported on Sunday, Visa will allow its partners to use USD Coin (USDC) on the Ethereum blockchain network to settle transactions.

ETH futures total open interest. Source: Bybt.com

Since then, the interest in Ethereum across both futures and options markets is seeing an uptick, with the former approaching $7 billion, the highest in over a month. 

The options market for Ethereum is particularly optimistic

According to Cantering Clark, a cryptocurrency trader and analyst, the Ethereum options market shows big bets heading into June.

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Ethereum options expiration. Source: Cantering Clark

The strike price with the highest open interest is $3,200. Although this does not necessarily mean that there is a high probability of ETH hitting $3,200, itTitle: Ethereum season? ETH options traders are placing big bets for June
Sourced From: cointelegraph.com/news/ethereum-season-eth-options-traders-are-placing-big-bets-for-june
Published Date: Fri, 02 Apr 2021 15:00:00 +0100

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