Binance and Coinbase failed to spur signs of disquiet among savvy bitcoin traders, options-based implied volatility metrics show. That's a sign the lawsuits were expected and priced in.back to life
Implied volatility is based on options data and reflects investors' expectations for price turbulence over a specific period. It is positively affected by demand for options , which are derivative contracts that offer the purchaser protection against bullish or bearish fluctuations. A call option protects against rallies, while a put option protects against drops.
Griffin Ardern, a volatility trader at crypto asset management firm Blofin, said the SEC's action is more damaging to alternative cryptocurrencies, or coins other than bitcoin.
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