However, regardless of low gas prices, interest in blue-chip NFTs declined significantly. According to data provided by Dapp Radar, blue chip NFT collections such as Axuji, Crypto Punks andComing to ETH, the price of the currency continued to surge over the last week. This spike in price has led traders to make some interesting decisions., 180,00 ETH options were about to expire at the time of writing. The Put Call Ratio for ETH stood at 0.86, suggesting a relatively higher demand for calls.
The Max Pain point was set at $1,750 at press time, which could be a level of interest for market participants as well.Moreover, the notional value of ETH options amounted to $340 million, indicating significant value at stake. Additionally, the positive market sentiment, fueled by the news of Blackrock’s ETF, has contributed to a surge in the market, with ETH also experiencing gains.
ETH’s options market exhibited clear IV inversions, making cross-currency IV arbitrage an appealing strategy. It is important to note that the sustainability of ETH’s lower implied volatility at press time, compared to BTC, may come into question in the long term.
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Source: CryptoAmb - 🏆 22. / 68 Read more »
Source: CryptoAmb - 🏆 22. / 68 Read more »