Bitcoin and Ether Options Activity Soars to Historic Highs of $20B Amid ETF Hype
Deribit options open interest (Laevitas)
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Deribit options open interest (Laevitas)
The debtor group in control of FTX assets has conducted various on-chain transactions in the past few weeks.
Overall market capitalization rose 5% in the past 24 hours.
Addresses tied to the bankrupt crypto exchange controlled by a creditors’ group have apparently staked the tokens to earn yield, blockchain data suggests.
Major tokens seemed to stabilize on Friday morning following a week-long price drop.
ETH dropped to its lowest price since March, while most cryptocurrencies struggled as risk-off sentiment took over markets following a slightly hotter-than-expected inflation report and surging rates.
The ongoing conflict in the Middle East impacted prices of riskier assets, such as bitcoin, on Monday.
The increase in staking has reduced the appeal of ether from a yield perspective, the report said.
Ether’s price dropped to its lowest price compared to bitcoin since July 2022 as the launch of futures-based ETH ETFs attracted meager interest from investors.
Bitcoin slumped below $28,000, and ether dipped below $1670.