It has been recently revealed through the Ethereum options data that the traders are purchasing $400 protective puts in addition to holding $7K call options in ETH. In accordance with the data revealed, it can be considered as a signal that the traders are either having stirred emotions or they are just cashing in on the beforehand premium.
Traders have Different Opinions on ETH’s Future, says Ethereum Options Data
After conducting a review of the Ethereum options for June 25, the thought that the traders are either over-optimistic or over bearish must have crossed anyone’s mind.
At present, there are huge bets for prices below the level of $1000 along with the aim of others of a price above the mark of $3,800.
In accordance with the recent report revealed by a leading market aggregator, huge inflows have been seen in multiple crypto funds following the streak of record outflows. As seen in the report, a total of $47 million in inflows was witnessed by the Ethereum carriers which ultimately pulled its market dominance up to 27%.
What Supports the Surge in Price of Ether
Even though the crypto industry witnessed a significant hit and following the price crash of Etheruem, Defi protocols have managed to maintain a total valued lock worth $48 billion, which added up as a positive factor for the cryptocurrency.
The past three months have witnessed a surge of around 56% and hence it is enough to allure investors. However, that is not the case with the traders in the market, as there is always a sense of exaggeration in whatever action they take in the market.
On June 25, 623,800 Ether option contracts are going to expire which accounts for a total of $1.75 billion open interest. These options are undoubtedly a good way for the option sellers to cash in the premium in advance.