Bitcoin’s price jumped to fresh 11-month highs on Friday with the options market betting on a sustained bull move.
While bitcoin’s range play continues, options traders look to be betting on a big move to the higher side soon.
Decentralized options marketplace Opyn has launched put options on COMP that will provide a safety net of sorts should COMP’s fortunes take a turn for the worse.
Surging open interest on bitcoin futures and options contracts might well be a sign that a breakout could be imminent.
Opyn, a hedging instrument for decentralized finance (DeFi) has closed a $2.16 million funding round led by Dragonfly Capital.
Lower bitcoin spot volumes and flatter-than-usual price action doesn’t mean crypto traders have zero opportunities to capitalize.
Most markets are quiet while activity seems to be increasing on Ethereum’s DeFi network – which could help explain ether’s outperformance of bitcoin in 2020.
The put-call volume ratio of bitcoin options suggests Monday’s price decline could be short-lived. However, the cryptocurrency remains vulnerable to a further sell-off in stocks.
Malta-based cryptocurrency exchange OKEx rolled out option contracts on Ethereum’s ether (ETH) token on Thursday, ending the Panama-based Deribit’s virtual monopoly in the space.
Derivative contracts on ether are more popular than ever, as evidenced by record open positions in options listed on the Panama-based derivatives exchange Deribit.