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Options data shows: Can Ethereum rise to $500 in September?

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Data from the crypto derivatives market shows that the price of ethereum, the second-largest cryptocurrency by market capitalization, could rise as high as $500. The price of Ethereum has continued to surge over the past few weeks, and the price has reached a two-year high near $440.

According to data from TradingView, in the encrypted derivatives market, Ethereum options and futures prices also appear According to the crypto media Cointelegraph, this may push the price of Ethereum to $500. Over the past three months, open interest in Ethereum futures has surged 250% to $1.7 billion.

$540 million in open interest in bitcoin options will expire on Friday: Jinse Finance reports that a total of about $540 million in open interest in bitcoin options will expire on December 11. Currently, the Deribit exchange holds 85% of Bitcoin options expiring on Friday, including $189 million worth of calls (buy) options and $282 million worth of put (sell) options. [2020/12/11 14:51:12]

The analysis pointed out that for now, the annualized premium rate of the Ethereum 1-month futures contract is 20%, which indicates that buyers are betting that the spot price of Ethereum will rise. Among the options expiring on the 25th of this month, there are 93,300 call options ranging from $340 to $880, of which there are more than 50,000 call options at the price of $480, so the possibility of a surge in the price of Ethereum Sex is great.

OKEx Option Contract System Maintenance Completed: Just now, the official announcement stated that OKEx has completed the option contract system maintenance at 16:35 on December 8, 2020. [2020/12/8 14:34:50]

The soaring price of Ethereum has benefited from the enthusiasm of the DeFi market in the past period of time. Decentralized exchanges and DeFi lending have become the most popular applications on Ethereum.

OKEx Options will undergo system maintenance at 16:30 on June 23: According to the official website announcement, OKEx Options will undergo system maintenance at 16:30 on June 23, 2020 (HKT). During the upgrade period, in the option business, functions such as market update, order placement, order cancellation, and order modification will be affected, and funds will be transferred in and out normally. [2020/6/23]

In addition, after Bitcoin, the cryptocurrency with the highest market value in the first half of this year, completed the third block reward halving, the implementation of Ethereum 2.0 has become the most concerned event in the encryption industry this year.

At present, the multi-client test network of Ethereum 2.0 has been launched, and its Phase O main network may be successfully launched before the end of this year.

However, Ethereum co-founder Vitalik Buterin said that although from a technical point of view, the realization of Ethereum 2.0 is "much more difficult than he expected." But, "I definitely don't think we've found any fundamental flaws that make it impossible, and I do think it's going to be done. It's just a matter of time, and there's been a lot of progress lately."

Author Liang Che

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