Home Blog Page 1176

Expert says Shiba Inu Support Trendline Indicates Huge Pump as Resistance Nears Breakout

Sam Wisdom Raphael
-
0
Expert says Shiba Inu Support Trendline Indicates Huge Pump as Resistance Nears Breakout

Shiba Inu (SHIB) has been gaining traction in the market, as analysts suggest that a major price surge could be looming. 

According to a recent chart shared by market analyst Jack, SHIB is forming a solid ascending support trendline that indicates bullish momentum is building up. The support trendline has been tracking higher lows, showing that buyers are steadily driving the price upwards.

Shiba Inu Looks Set for Breakout 

After a long consolidation phase between June and August, SHIB saw a massive upward push in September, briefly testing the resistance zone around $0.00002100. The price pulled back after encountering resistance in early October but has quickly rebounded as it followed the ascending support trendline.

Shiba Inu Support Trendline CryptoJack
Shiba Inu Support Trendline | CryptoJack

The price action is currently approaching an important resistance zone between $0.00002000 and $0.00002100. SHIB has tested this resistance multiple times, but the price has yet to break through. 

However, Jack suggests SHIB is on the verge of breaking out above this level. Once SHIB manages to surpass this zone, the chart indicates a sharp upward movement. A breakout could see SHIB rally to $0.00002700, a gain of over 40% from current levels.

SHIB’s Immediate Price Levels

Meanwhile, SHIB’s immediate price levels show that the coin is currently trading near $0.00001933. Over the last few weeks, SHIB has shown a steady trend of higher lows, confirming the presence of buying interest and market confidence. 

The price has formed a symmetrical triangle, with the current pattern suggesting that Shiba Inu is gearing up for a breakout above $0.00002000. This symmetrical triangle pattern often indicates a continuation of the trend, as a breakout could lead to a sharp price rally.

Shiba Inu 1D Chart
SHIB 1D Chart

The chart also highlights indicators that point to growing bullish pressure. SHIB is currently trading just below the upper Bollinger Band at $0.00001934, and any decisive movement above this level could catalyze a breakout, resulting in a breach of the symmetrical triangle.

However, on the flip side, the immediate support rests at the 20-day moving average (MA) at $0.00001763, providing a safety net in case of a minor pullback.

Meanwhile, the Relative Strength Index (RSI) stands at 63.96, indicating that SHIB is approaching overbought territory. However, the RSI has room to grow before signaling extreme overbought conditions.

Ripple CEO Expresses Surprise About XRP ETF Timing, Expects Product to Attract Capital Into XRP

Lele Jima
-
0
Ripple CEO Expresses Surprise About XRP ETF Timing, Expects Product to Attract Capital Into XRP

Ripple CEO Brad Garlinghouse reacts to the filings of multiple XRP ETFs, speculating that the product would attract more capital into the XRP ecosystem. 

October 2024 started with a bang for the XRP community after Bitwise applied with the SEC to launch an exchange-traded fund (ETF) for the seventh-biggest cryptocurrency by market cap. 

On October 2, the crypto asset manager submitted an S-1 document with the SEC, declaring its interest in launching an XRP ETF. One week later, famous investment firm Canary Capital joined the race to launch a similar product for XRP. 

Garlinghouse Surprised By the Timing, Not the Outcome 

Speaking in a recent interview on the Thinking Crypto podcast, Ripple CEO Brad Garlinghouse said he was surprised by the timing of the XRP ETF filings. Both applications were filed within a week, at a time when the XRP community was deliberating whether the SEC would appeal the Ripple ruling. 

Although the SEC appealed the Ripple verdict just hours after Bitwise filed for an XRP ETF, it did not prevent Canary Capital from submitting its own XRP ETF application.

While Garlinghouse said he was surprised by the timing of the XRP ETF filings, the Ripple CEO said he was “not surprised by the outcome.” 

Garlinghouse suggested that his prediction about XRP ETF is gradually playing out. Recall that after the SEC approved multiple Bitcoin ETFs in January, Garlinghouse speculated that it is only a matter of time before the industry sees a similar product for XRP and other assets, like Ethereum (ETH). 

Currently, the SEC has approved Bitcoin and Ethereum ETFs, with two potential issuers seeking to launch a similar product for XRP. 

Grayscale Basket ETF Will Attract Capital to the XRP Ecosystem 

Additionally, Garlinghouse commended Grayscale’s move to file for the conversion of its Digital Large Cap Fund, containing five crypto assets including XRP and Bitcoin, to a spot-based ETF. 

According to him, this move validates his prediction that investors are seeking basket-style crypto investment options. Interestingly, Garlinghouse believes that Grayscale’s basket ETF will attract more capital to the XRP ecosystem and the broader crypto market. 

His confidence stems from the significant capital inflow into Bitcoin ETFs. For context, the multiple Bitcoin ETFs have attracted an inflow of $21 billion since they went live on January 10. Nonetheless, the Ripple CEO projected that these funds would attract more capital in the future. 

NYSE and CBOE Get Regulatory Node to Trade Options on Spot Bitcoin ETF

Elendu Benedict
-
0
NYSE and CBOE Get Regulatory Node to Trade Options on Spot Bitcoin ETF

The US Securities and Exchange Commission (SEC) has approved the rule change to allow two top exchanges to trade options on spot Bitcoin ETF products.

As stated in a filing on Friday, the Wall Street securities watchdog gave accelerated regulatory approval to the New York Stock Exchange (NYSE). Notably, the NYSE, the largest stock exchange by market cap, will trade 11 spot Bitcoin ETF products.

The approved rule change allows the NYSE to offer investors access to options on the iShares Bitcoin Trust (IBIT), Franklin Bitcoin ETF (EZBC), the Grayscale Bitcoin Trust (GBTC), the Grayscale Bitcoin Mini Trust (BTC), among others.

Furthermore, the Chicago Board Options Exchange (CBOE) also received the regulatory node to list options on 10 spot Bitcoin ETFs. The trading platform will list all the spot Bitcoin ETFs except the Grayscale Bitcoin Mini Trust (BTC).

SEC Greenlights Options Trading on Spot Bitcoin ETF Products

Notably, the SEC’s Friday approval came after greenlighting Nasdaq’s filing to trade a similar product. On September 20, the regulator approved Nasdaq’s rule change request to offer options contracts on BlackRock’s IBIT to US investors.

Options trading allows investors to buy and sell shares of the spot Bitcoin ETF products at a predetermined price and within an agreed-upon period. Notably, the SEC noted in the October 18 approval that it believes the options trading for Bitcoin ETFs would allow hedging and provide better liquidity to the funds.

Meanwhile, the spot Bitcoin ETF products have seen massive traction since approval. The funds now have a cumulative net inflow of over $20 billion and hold 4.89% of Bitcoin’s circulating supply less than a year after their market debut.

Market speculators believe that the options contract will attract more institutional investors and consequently boost Bitcoin’s bullish momentum. Notably, the SEC has not approved Nasdaq’s request to trade the Bitcoin options index (XBTX).

Exchanges Hope to Clear Final Hurdle

Following the approval, Bloomberg’s senior analyst Eric Balchunas noted that the move was expected. The market expert stated that it was the same as Nasdaq’s. As a result, the SEC’s approval was no surprise.

Furthermore, he revealed that the remaining process before the listing was moving smoothly. It bears mentioning that the SEC approval was not the only process involved in listing the options on the spot Bitcoin ETF products. Other regulators, like the Commodity Futures Trading Commission (CFTC), would have to greenlight the products.

Notably, Balchunas stated they were “hearing good things” about the CFTC approval process. However, he clarified that the exchanges had not received an exact listing date for the options contracts.

Expert Says He Would Hold XRP Until It Reaches $100 If Given 1,000 XRP

Abdulkarim Abdulwahab
-
0
Expert Says He Would Hold XRP Until It Reaches $100 If Given 1,000 XRP

Edo Farina, CEO of Alpha Lions Academy, recently sparked conversation in the XRP community by asking enthusiasts how they would spend a gift of 1,000 XRP.

Farina specifically sought opinions on what individuals would do with 1,000 units of XRP if he were to send it to them for free. The inquiry garnered significant attention, with many offering their suggestions.

Kernow Maiden, an innovator in the XRP Ledger, mentioned that she would commit the 1,000 XRP to her children’s funds. Likewise, many commenters highlighted their intention to secure it in cold storage for long-term holding. However, commenters who are pessimistic about XRP’s future noted that they would sell the tokens immediately upon receipt.

Holding XRP Until $100 Price Point

Amid these various suggestions, a comment from CryptoTank, a notable crypto researcher, stood out. CryptoTank stated that he would hold on to the 1,000 XRP gift until its value appreciated to “at least” $100 per unit.

Currently, XRP is valued at $0.5466, meaning reaching $100 would require a growth of 18,194%. In this scenario, the 1,000 XRP, worth $546.6 today, would rise to an astonishing $100,000.

Essentially, ambitious XRP proponents like CryptoTank are targeting the substantial wealth that could accrue if the asset’s value expands astronomically.

When Can XRP Reach $100, According to Experts?

Analysts have varying views on the timeline for XRP to reach $100. Market commentator Andrew Forte predicts this milestone by 2037, alongside Bitcoin at $1 million and Ethereum at $20,000.

Similarly, analyst BarriC suggests that while XRP’s current price of around $0.54 is viewed as cheap, it might range between $1 and $3 by the end of the current bull run. He anticipates a “cheap” price of $100 to $500 by 2032-2033. Additionally, analysts from Changelly forecast that XRP could reach $100 by April 2040.

It is worth noting that achieving this $100 level would result in an XRP market cap of around $9.99 trillion. This resulting valuation has continued to raise questions about the feasibility of XRP reaching $100.

Blockchain Researcher States Why XRP Price Does Not Matter

Sam Wisdom Raphael
-
0
Blockchain Researcher States Why XRP Price Does Not Matter

XRP has shown relative price stability over the years, even after experiencing several market cycles, but some believe this trend might be beneficial for adoption.

XRP’s Relative Price Stability 

After reaching its all-time high of $3.31 in January 2018, XRP saw a massive drop and began trading within a narrow range of $0.52 to $0.25 between July 2018 and June 2019. 

Notably, the price hit a low of $0.11 in March 2020 before recovering to $1.96 in April 2021. However, XRP has since returned to the $0.50 range, with its current value sitting at $0.54. 

For context, Bitcoin (BTC) traded between $3K and $13K from July 2018 to June 2019. However, it now changes hands at $68K, with no likelihood of revisiting the $13K range.

Similarly, between July 2018 and June 2019, Ethereum (ETH) changed hands in a range of $223 to $514. Now, the altcoin king trades for $2,646, with the possibility of revisiting the $500 level nearly non-existent.

Technological Advantages

Investors have lamented this price stagnation, as XRP has remained below the $1 level since December 2021. Amid the concerns, blockchain researcher SMQKE argues that for institutions looking to adopt XRP, its current price is of little concern.

SMQKE stressed that institutional investors value XRP not for its short-term price movements but for its advantages. XRP’s technology allows real-time, low-cost, cross-border transactions, presenting an edge over traditional systems like SWIFT. 

According to SMQKE, this efficiency and global reach are what truly matter to financial institutions. Banks and other large entities are looking for blockchain solutions that can improve their payment infrastructure, and XRP presents just that.

“Price Does Not Matter”

In addition to its technological benefits, SMQKE insists XRP’s price stability appeals to institutional investors. While XRP has experienced ups and downs like any other cryptocurrency, it has managed to maintain a relatively stable range compared to the extreme volatility with assets like Bitcoin and Ethereum. 

This consistency, even after market fluctuations, makes XRP a more reliable and attractive option for large-scale investors seeking to minimize risks. 

Unlike more speculative assets, XRP’s steady performance gives institutions the confidence to leverage its use in real-world financial applications without the fear of wild price swings disrupting their operations.

SMQKE also stressed that institutional investors focus on long-term trends rather than day-to-day price movements. He sees XRP’s stability and technological potential as important features that will drive adoption in the future. 

He also discussed the recognition of blockchain’s benefits across industries. Some countries are leveraging blockchain for CBDCs and payment systems. Notably, with governments and corporations continuing to explore decentralized technologies, the overall crypto market could grow.

XRP, with its established infrastructure and use cases, is likely to be a beneficiary of this trend. Institutions, aware of the long-term potential of blockchain, understand that XRP’s value lies in its utility rather than its market price at any given moment.

SMQKE advised patience for retail investors concerned about XRP’s inability to surpass new price milestones. He believes that while the current price might not be exciting for individual traders, it is important to focus on the bigger picture.

Ripple CLO Makes New Defense Against SEC Classification of XRP As a Security

Lele Jima
-
0
Ripple CLO Makes New Defense Against SEC Classification of XRP As a Security

Ripple’s CLO Stuart Alderoty makes an analogy between the secondary market sales for a concert ticket and crypto to argue further that XRP is not a security. 

In a tweet today, Alderoty shared a ticket to Taylor Swift’s Eras Tour concert, which took place yesterday at Hard Rock Stadium in Miami Gardens, Florida. 

Not Every Market Is a Securities Market 

The Ripple CLO explained that selling the ticket in the secondary market does not automatically make it a security. He asserted that the same applies to secondary market trading of crypto, suggesting that this type of transaction does not mean the asset should be considered a security. 

Alderoty emphasized that not every market in the United States is a securities market. Another image accompanying the tweet is an XRP bracelet, which reads, “XRP IS NOT A SECURITY.”  

Notably, the Ripple CLO used the analogy to reinforce the argument that not all assets traded in the secondary market should be subject to securities regulations. The tweet is part of Ripple’s defense against the SEC’s classification of its programmatic sales of XRP as a security. 

SEC Insists Ripple Programmatic Sales and Other Distributions of XRP Are Securities 

Although the SEC no longer alleges that XRP is a security in itself, the regulator has maintained that certain transactions involving the token constitute investment contracts. 

The development comes less than 48 hours after the SEC filed its Form C in its appeal against Ripple. As reported earlier, the securities regulator seeks an appellate review of the decisions relating to Ripple’s programmatic sales of XRP on digital exchanges and the company’s use of the token as a payment method. 

Recall that Judge Analisa Torres held that these transactions do not constitute investment contracts, a particular type of securities. However, the SEC is not pleased with the decision as it hopes to overturn the verdict in the Second Circuit. 

The SEC asked the Second Circuit to review the rulings on Ripple’s programmatic sales on digital exchanges and other distributions of XRP from the beginning without deferring to Judge Torres’ previous verdict. 

Ripple to File Form C Next Week 

In the meantime, Ripple is expected to file its Form C by next week detailing its cross-appeal pre-argument. The company would challenge the district court’s decision regarding its past institutional sales of XRP, which were deemed securities. 

This decision resulted in a $125 million fine against Ripple, with the court placing an injunction on the company’s future sales of XRP to institutional clients. 

Unsatisfied with the order, Ripple has filed a cross-appeal to overturn the verdict in the Second Circuit. 

Top Chartist Identifies XRP Major Hurdle in Channel B, Projects Long-Term Target of $27 if Resistance is Broken

Sam Wisdom Raphael
-
0
Top Chartist Identifies XRP Major Hurdle in Channel B, Projects Long-Term Target of $27 if Resistance is Broken

Market analyst EGRAG recently outlined multiple resistance levels that XRP needs to breach to secure a rally toward greater heights. 

In his recent analysis, he focused on Channel B, a boundary that XRP has struggled to breach for years decisively. As pressure builds, a breakout above different resistance levels could drive XRP’s path to much higher prices, with $27 being the ultimate long-term target.

XRP Within Channel B

According to EGRAG, Channel B on the XRP monthly chart has acted as a major hurdle since 2017. Despite several attempts, including the substantial price rally in July 2023, XRP has been unable to close above this channel on a monthly time frame. 

XRP Channel B on 1M Chart EGRAG Crypto
XRP 1M Chart | EGRAG Crypto

As market participants continue to lament XRP’s persistent underperformance, EGRAG suggests the Channel B boundary has been responsible for the persistent resistance, forcing price consolidations and retracements each time XRP approached it. 

However, with XRP’s price movements now becoming increasingly squeezed within this range, market data suggests there is a buildup of pressure, and a breakout may be looming.

Resistance Levels

EGRAG identified major resistance levels to breach to secure a breakout. The first resistance level is at $0.6450, marking an immediate roadblock. Should XRP break through this level, it will face a more challenging test at $0.85, which acts as the midpoint of Channel B. 

This level is important because it represents the halfway point of the range. A break above $0.85 would indicate that momentum has tilted from bearish to bullish, eventually leading to a test of the $1.10 level, which forms the upper boundary of Channel B.

EGRAG called the $1.10 resistance the final major roadblock before XRP can soar to greater heights. A monthly close above this level would signal a decisive breakout and could set the stage for the much-awaited bullish cycle. 

Several market commentators have argued that a breach of the $1 level could mark the turning point for XRP. Interestingly, some pundits believe XRP is currently on the verge of crossing this mark, and investors might not see it trade below it again once this happens.

Long-Term XRP Targets

Once the $1.10 resistance breaks, EGRAG identifies $7.57, aligning with the 1.236 Fibonacci level, as the first target. The next target is $13.90 along Fib. 1.414. Finally, the 1.618 Fibonacci level, which points to a potential price target of $27.88, represents the ultimate target.

Meanwhile, as the bulls await a breakout, the immediate support for XRP rests on $0.48 with other levels at $0.38 and $0.28. Notably, as long as XRP remains above these supports and within Channel B, the likelihood of a breakout remains intact.

At press time, XRP changes hands at $0.547, having increased by 0.72% over the past 24 hours. The bulls have continued to battle the bears at the $0.55 level amid the recent rebound pull.

Analyst Identifies New XRP Structure, Predicts Potential Rally to Double Figures

Sam Wisdom Raphael
-
0
Analyst Identifies New XRP Structure, Predicts Potential Rally to Double Figures

XRP market sentiment heats up as an analyst identifies a major bullish signal that hints at a potential breakout in the near term toward a double figure. 

The analyst, Javon Marks, pointed out in his latest analysis that the current XRP setup is similar to a price action structure from 2017, where XRP consolidated for over two years in a horizontal range between $0.004 and $0.009. 

XRP Bullish Setup

Interestingly, this phase featured hidden bullish divergence, which indicates underlying strength in a market despite relatively stable prices. In early 2017, following the divergence, XRP experienced a major breakout, surging from its consolidation range to the $3.31 peak.

XRP 6D Chart Javon Marks
XRP 6D Chart | Javon Marks

Now, in 2024, XRP is again displaying signs of strength. The analyst’s chart shows that since May 2023, XRP has been trading in a similar rectangular consolidation zone between $0.42 and $0.74. 

This range has also featured a hidden bullish divergence, similar to the pattern observed in 2017. The analyst believes that this could signal another explosive breakout. The analyst also spotlighted a consolidation area marked in a green circle within the chart, which occurred just before XRP’s breakout in 2017. 

This consolidation area is now playing out in 2024 as XRP forms another structure. The appearance of this structure could mean that XRP is now building up strength for the breakout. Despite not presenting a definite target, Marks’ chart depiction suggests a rally toward $17. 

At its current price, XRP would need to rally 3,029% to clinch the $17 target. Notably, other analysts have also predicted a rally to this price level, with EGRAG, one such individual, citing what he calls the “Bent Fork” as a potential trigger.

XRP Current Position

On the daily chart, XRP is now showing signs of recovery. At the time of writing, XRP is trading at $0.5433, having bounced back from a steep decline at the end of September. 

Between Sept. 30 and Oct. 3, the altcoin experienced a short-term collapse on the back of the SEC’s appeal notice but managed to stabilize and form a symmetrical triangle. 

The chart shows that XRP is currently testing the 0.236 Fibonacci retracement level, which sits at $0.5443. For a breakout from the symmetrical triangle to materialize, XRP would need to decisively close above the 0.382 Fibonacci level at $0.5674. 

If this happens, it could trigger a wave of buying interest, leading to a sustained move higher. The next major resistance level would be the 0.618 Fibonacci level at $0.6049, which would further confirm the bullish momentum.

Meanwhile, the Relative Strength Index (RSI) is currently at 46.63, a neutral reading. However, RSI values above 50 indicate bullish momentum. Given that XRP is trading just below the 50 mark, a slight uptick in price could quickly push the RSI into bullish territory.

Morgan Stanley Discloses $272 Million in Bitcoin ETF Holdings

Elendu Benedict
-
0
Morgan Stanley Discloses $272 Million in Bitcoin ETF Holdings

For the second quarter running, the asset manager of Morgan Stanley, $1.3 trillion, reported exposure to US Bitcoin spot exchange-traded funds.

In a 13F-HR/A filing with the US Securities and Exchange Commission on Thursday, Morgan Stanley disclosed it holds $272 million worth of the Bitcoin investment vehicle as of the end of the third quarter. Notably, this was a mere 0.02% of the asset manager’s $1.3 trillion holdings.

Meanwhile, a chunk of the funds were invested in the BlackRock iShare Bitcoin Trust (IBIT). Morgan Stanley revealed it owns 5.5 million shares purchased in the second quarter.

The shares’ value was $187.7 million at the time of purchase. However, it has surged to $209 million over the last quarter, accounting for a 10.2% increment.

Furthermore, Morgan Stanley disclosed that it held on to its investments in the Ark 21 Shares Bitcoin ETF (ARKB) but significantly reduced its exposure to the Grayscale Bitcoin Trust (GBTC). The filing revealed that it lowered its GBTC shares from $270 million to $148,000.

Morgan Stanley’s Bitcoin ETF Exposure

Notably, Morgan Stanley is one of the crypto-friendly asset managers in the US. Recently, the investment bank announced it has allowed its financial advisors to pitch Bitcoin ETFs to its clients.

The move is massive, considering the bank’s voluminous asset holdings. For instance, if the asset manager allocates a mere 1% of its assets to Bitcoin spot ETFs, the products will see an inflow of $130 billion.

Meanwhile, Morgan Stanley’s exposure to Bitcoin ETFs reflects the manner of institutional presence the products would attract to the crypto market. Notably, banking giant Goldman Sachs also holds Bitcoin ETFs in its portfolio.

To this end, analyst Kripto Mevsimi noted that the launch of the spot ETFs has transformed Bitcoin into a more mature asset. He stated that the largest crypto asset by market cap is outgrowing its teenage years and is becoming an integral member of the global financial market.

Bitcoin ETFs’ Renewed Traction

Inflows into the US Bitcoin spot ETFs maintained peak performance on Thursday, following four consecutive days of substantial positive net flows. Issuers bought $470.48 million worth of Bitcoin yesterday, improving from the Wednesday inflows.

As expected, IBIT led inflows, commanding an influx of $309 million. ARKB also had an impressive outing, recording a single-day positive flow worth $100.2 million.

GBTC maintained its positive run, raking in $45.7 million yesterday. Interestingly, the fund has not recorded an outflow for four consecutive days. The Fidelity Wise Origin Bitcoin Fund (FBTC) also bought $11.7 million worth of Bitcoin on Thursday.

With the inflow, the Bitcoin spot ETFs have seen an inflow of $2.1 billion in the past five days. Their cumulative net inflow also surged past $20 billion for the first time in history.

$1.26B in Bitcoin Options Contracts Expire as BTC Crosses $68K

Abdulkarim Abdulwahab
-
0
$1.26B in Bitcoin Options Contracts Expire as BTC Crosses $68K

The enduring uptrend in the spot market has impacted crypto traders betting on the price trajectory of Bitcoin in the derivatives market.

Amid Bitcoin’s push above the $68K level, a large volume of bets from the options market has become worthless. According to data from Greeks.live, 11,000 Bitcoin options contracts reached expiration today, October 18.

$1.26B Bitcoin Options Contracts Expired Amid $68K Surge

The expired contracts carry a combined notional value of over $1.26 billion. The Put/Call ratio for Bitcoin was 0.78. This indicates a relatively bullish outlook, with 78 put options (bearish bets) for every 100 call options (bullish bets).

Also, the “maximum pain” point for expired Bitcoin options contracts was $64,000. This means most options holders would have incurred the greatest losses if the options had expired with Bitcoin at this price.

Bitcoin is currently trading at $68,150, reflecting a 2% gain in the last 24 hours and an 11% increase over the past week. Bitcoin’s week-long uptrend has impacted Ethereum. However, the altcoin king shows weaker daily and weekly gains than Bitcoin. 

Nonetheless, as Ethereum trades at $2,650 with a 1.3% growth today, a substantial volume of Ethereum option contracts is also expiring.

Expiring Ethereum Options Contracts

Specifically, 138,000 Ethereum options contracts expired today, with a notional value of $360 million. The Put/Call ratio for Ethereum was slightly lower than Bitcoin’s at 0.61. This suggests an even more optimistic market sentiment, with only 61 puts for every 100 calls. Ethereum’s maximum pain point was $2,500.

Overall, market sentiment appears to lean bullish for Bitcoin and Ethereum, with call options outpacing put options, more substantially in the case of Ethereum.

Meanwhile, Greeks.live noted that the volume of Ethereum options expiring this week is just under 30% of Bitcoin’s. It attributed this disparity to Bitcoin’s significant rally this week, while Ethereum’s performance was comparatively weaker.

Moreover, the analysis added that in terms of implied volatility (IV), Ethereum’s flat option IV for January is only 4% higher than Bitcoin’s and continues to decrease.

Reflecting on the excitement surrounding the launch of the Ethereum spot ETF in July, Greeks.live argued that the opportunity was not fully capitalized upon. The once-vibrant momentum has faded. In just months, Ethereum, once hailed as the “world’s computer,” has shifted in perception, becoming more like the “world’s abacus,” according to Greeks.live.

1...1,1751,1761,177...2,662Page 1,176 of 2,662