Ethereum (ETH)

Traders Can Now Bet if Ethereum’s Price Will Be Over $25k in December on Deribit

3.5 mln ETH options contracts traded on Deribit in Jan. 2021, up 18% from Dec. 2020. OI on Eth options also surged to 1.8 billion.

Not just Ether price expecting $10k or $20k, now people can also bet on the price of ETH going above $25k on Deribit.

The popular options market has added new ETH options contracts with a $25,000 strike price in the Dec. 21st expiry in line with its “introduction policy.”

This just means Deribit has made a market available to bet on ETH price at $25k in December; a trader can take either the long side of it or the short side of it. One can buy a ‘call’ option if they believe the price will move higher and buy ‘put’ options if they believe the price is going to fall.

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Just yesterday, Ether made a new all-time high at $1,575 and has entered into its price discovery.

The leading options platform in the cryptocurrency market, Deribit, had 3.5 million ETH contracts traded in January. In a “groundbreaking record,” the options open interest also exceeded USD 10 billion, with OI on ETH contracts surging from $800 million to 1.8 billion.

Compared to 3,529,404 ETH options contracts traded in January 2021, up 18% versus December 2020, 800,690 BTC options contracts were traded in the same month, which increased 21% from the previous month on Deribit.

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“As more ETH get staked, and institutional investors are expanding their crypto holdings, bullish ETH market sentiment persists,” noted Deribit in its January institutional newsletter.

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Options are getting increasingly popular in the cryptocurrency market, which in turn is increasing the effect of the contract expiries on the underlying asset’s price. Deribit’s total options turnover was also $31.9 billion, a whopping 90% jump from December.


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