Data shows Ethereum bulls expect a new ATH after Friday’s $1.25B ETH options expiry
Ether (ETH) has gained 950% in 2021 and from the look of things the altcoin has no intent of stopping. This can also be seen in the ultra-optimistic bets for October’s $1.25 billion options expiry. However, this phenomenon is not exclusive to Ether bulls.
The right to acquire Ether at a fixed price in the future does not come at a cheap price. On Sep. 4, the $5,000 call option for Oct. monthly expiry was trading at ETH 0.082 which is equivalent to $320. Unfortunately, for the bulls, these options are now worthless.
Gas fees on Ethereum transactions are still above $25 and this will continue to favor competitor blockchains with their own decentralized finance (DeFi) and non-fungible tokens (NFT) markets. Even with these high fees, the leading
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