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Friday’s $540M Ethereum options expiry favors traders with targets at $5K
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Ether (ETH) bulls are probably very pleased with the 368% gains accrued so far in 2021 and it seems like not a day passes where the altcoin doesn’t hit a new all-time high.
Even with Ether on the path to $5,000, there are still plenty of concerns about the network's capability to absorb the strong demand coming from the decentralized finance (DeFi) and non-fungible token (NFT) sector.
Another potential setback laying ahead is the United States Treasury report on stablecoin regulation released on Nov 1. The report stressed the necessity of Congress to "ensure appropriate federal prudential oversight on a consistent and comprehensive basis."
In addition to this, competing networks offering interoperability with major DeFi projects have been
Read more on cointelegraph.comAbout this in other media
Overleveraged Traders Flushed Out, 'Bullish Market Structure Intact' cryptonews.com /2 years ago
Bitcoin has stalled, but here’s why pro traders still expect $80K by January cointelegraph.com /2 years ago
Citadel CEO explains why Ethereum will replace Bitcoin, in ‘next generation’ of crypto ambcrypto.com /2 years ago
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