Ethereum's recent really from the lower-$200 region to highs of $245 has allowed it to reverse the immense downtrend it had previously been caught in against its Bitcoin trading pair.
It has also sparked a massive increase in ETH options volume on popular platforms like Deribit, with the cryptocurrency's daily options volume hitting a record high today.
This is a sign that traders are anticipating the crypto to make a big movement in the days and weeks ahead. Because Ethereum's fundamental strength has grown significantly as of late, it is a growing possibility that this next big movement will heavily favor buyers.
Ethereum's major price rise comes as options volume reaches a record high.
Earlier this week Ethereum was trading within the lower-$200 region.
Traders have taken notice of this recent price action, and it appears that they are widely gearing up for the crypto to make a major movement in the near-term.
This trend is clearly elucidated by the cryptocurrency's options volume rising to a fresh all-time high today - a sign that traders are trying to gain exposure to the crypto before it sees even further volatility.
Data platform Skew spoke about this in a recent tweet, offering a chart showing the tremendous growth that ETH's options volume has seen in recent months.
"Another record volume day for ether options!".
So long as Bitcoin and the aggregated market remains stable, it is a strong possibility that the imminent volatility that Ethereum traders are anticipating will favor buyers due to ETH's fundamental strength.
Ethereum traders prepare for massive volatility as options volume hits record highs
에 게시 됨 Jun 2, 2020
by Cryptoslate | 에 게시 됨 Coinage
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