coindesk.com
Ether, the native cryptocurrency of Ethereum’s blockchain, refreshed record highs on Tuesday amid continued bullish flows in the options market. Meanwhile, tokens associated with virtual reality games extended rally on Facebook’s recent championing of metaverse as the next evolution of social technology.
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Ether rose to $4,480 during the European hours, surpassing the previous peak price of $4,458 reached on Oct. 29, according to CoinDesk 20.
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On Monday, several large bull call spreads crossed the tape on Deribit, the world’s largest crypto options exchange by volumes and open interest.
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As seen in the chart, a bull call spread involves purchasing a call at a particular strike price and simultaneously taking an opposite position in a higher strike call. The strategy is initiated when expecting a measured rise in cryptocurrency’s price.
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