Ether's options market turned bullish for the first time since early January as the cryptocurrency hits a one-month high. godbole17 reports
data. The cryptocurrency has gained 35% in seven days, outperforming bitcoin's 11% rise by a wide margin." or Ethereum 2.0, promises to make ether a deflationary currency and Ethereum an environmentally friendly smart contract blockchain.
"At this point, some traders are buying large amounts of call options and buying the underlying [asset] in the spot market," Griffin Ardern, volatility trader from crypto asset management firm Blofin, said. "To hedge their risk, options market makers [who sold calls to investors] need to buy spot or go long futures, which will push prices up further quickly when liquidity is insufficient," Ardern added.
Options market makers are entities entrusted with ensuring healthy liquidity levels on exchanges. Market makers are usually on the opposite side of investors' trades and run a direction-neutral exposure by constantly buying and selling the underlying asset
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