Ether prices have gained around 8% over the past 24 hours, with the asset hitting an intraday high of $3,722 on April 9, outpacing Bitcoin at the $4,000 strike price and $378 million at strike prices of $3,700 and $5,000, according to crypto futures exchange Deribit.
This shows an upside bias and bullish sentiment for the end-of-the-month options expiry on April 26, when around 900,000 Ethereum contracts expire with a notional value of $3.8 billion.in a post on X on April 8 that the premise of Ethereum spot ETF approvals is driving momentum, but it could be short-lived if they get rejected.
“All the hot money that flowed into ETH because of ETF hopium is going to go back into Bitcoin once the Ethereum ETFs are all rejected…”that “powered by Ethereum’s rise to start the week,” ERC-20 assets have been “well ahead of the markets on average,” the sector has grown by 8.1% in the past week.) to take the tenth spot by market capitalization following an 18.5% daily gain to hit an all-time high of $6.50 on April 9.
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Source: Cointelegraph - 🏆 562. / 51 Read more »