Ether Has 1 in 5 Chance of Tapping $5K by End-June, DeFi Options Protocol Lyra Says
Traders on Lyra have snapped up ether calls at the $5,000 strike and higher this week.
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Traders on Lyra have snapped up ether calls at the $5,000 strike and higher this week.
Bitcoin spot ETFs in the U.S. have seen net inflows of over $1.4 billion in the past week after a timid first half of the month.
Analysis by Nansen shows that early TRUMP holders made an ROI of over 1,600% from the PoliFi token.
Meme coins have been increasingly seen as a way to bet on the growth of the underlying network they are issued on.
Some traders expect ether prices to reach as high as $4,000 in the coming days, with odds of an ether ETF approval raised to 75%.
One trader said rising risk appetite for alternative assets could cause bitcoin to exceed the $70,000 level over the weekend.
Ether’s sell-off has stalled at an upward-sloping trendline, characterizing the rally from October lows.
The ether-bitcoin ratio slides to a three-year low, extending year-to-date losses to nearly 16%.
One trading desk has seen an uptick in call buying activity with targets of as high as $120,000 for December 2024.
Increased transactions on the Shibarium blockchain will lead to a higher burn rate for the SHIB token, reducing its circulating supply.