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Ethereum hits a new milestone once again. Check out the post that Unfolded shared on their social media account.
Ethereum options open interest on Deribit hits $6 billion for the first time. pic.twitter.com/jz3ZesxwfJ
— unfolded. (@cryptounfolded) May 11, 2021
It’s also important to note the following about Ethereum Options:
#Ethereum Options:
As $ETH spot reached new ATHs, the skew has been expanding & is now down few points from weekend level with short term volatility near 120%.
Strong demand in OTM Calls with highest OI build-up around the $5K strike.
📈 Trade Options: https://t.co/OGbgM6Z8lN pic.twitter.com/yM32EGujQe
— Delta Exchange – Bitcoin & Altcoin Derivatives (@Delta_Exchange) May 10, 2021
The notes continued and revealed that “Call skew positive with May volatility trades at few % discount to longer-dated expires. $BTC Call OI increasing in far OTM strikes $80K-$100K with highest OI in $50K Puts across the board.”
Ethereum in the news
Ethereum has been making a lot of headlines these days due to various achievements of the project and the fact that the coin managed to hit more ATHs.
It’s been reported that the billionaire investor and business tycoon Mark Cuban revealed a game-changing catalyst that could catapult Ethereum to new ATHs.
Cuban recently said that Ethereum (ETH) has the potential to take over the world of business.
“The reason ETH has a chance to blow up even bigger is that we have yet to really see business applications built on ETH smart contracts start to happen. When they do, every company will be ETH literate which will change the game. But layer 2s will have an important role to play too.”
He also said that ETH’s highly anticipated update to the proof-of-stake model would play a vital role in maintaining its dominance in the space.
Ethereum is currently trading in the green and at the moment of writing this article, ETH is priced at 4,268.04.