Trader Places $28M Ether Bet to Profit From Volatility Surge

·1 views

A large options trade worth $28 million has been placed in the ether market, targeting potential price turbulence rather than a directional move. The strategy is designed to profit if ether experiences a significant surge in volatility. Such trades, known as volatility plays, generate returns when market swings intensify regardless of whether prices rise or fall. The bet reflects growing uncertainty among some traders about ether's near-term price stability.

Read the full story at CoinDesk

This is an AI-generated summary. ShortSingh links to the original source for the complete article.

Discussion (0)

Airbnb CEO Brian Chesky Says X Account Was Hacked, Crypto Posts Were Fake

Airbnb CEO Brian Chesky announced that his account on X, formerly Twitter, was compromised by a hacker. The attacker used the account to post AI-generated content related to cryptocurrency tokenization. Chesky subsequently regained control of his account and addressed the incident publicly. He warned any new crypto-focused followers who found him through the fake posts that he would be a 'disappointing follow', signaling he has no plans to discuss crypto.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Ether and HYPE Slide as Crypto Markets Follow Global Equity Selloff

Cryptocurrency markets faced sharp declines as a broader unwinding of the chip trade rattled global markets. Ether fell approximately twice as steeply as Bitcoin during the downturn, while HYPE dropped around 10%. Japan's Nikkei stock index recorded its worst single-day performance since March, reflecting widespread risk-off sentiment. Despite the recent losses, Ether remained the only major cryptocurrency still holding a marginal weekly gain.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

New 'DOG Mode' Bitcoin Client Offers Alternative to BIP 110 Anti-Spam Proposal

A new Bitcoin client called DOG Mode has emerged as an alternative approach to addressing spam on the Bitcoin network. Unlike BIP 110, which seeks to restrict data through a consensus-based rule change, DOG Mode takes the opposite stance on data handling. BIP 110 has garnered almost no support from miners, highlighting divisions within the Bitcoin community over how to tackle spam. DOG Mode requires no community vote or consensus approval to be implemented, making it a more independently deployable solution. The two proposals reflect contrasting philosophies on how Bitcoin's spam problem should be addressed.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Bitcoin Slides Below $64,000 as U.S. Strike on Iran and China Tensions Rattle Markets

Bitcoin fell below $64,000 amid rising geopolitical tensions following a new U.S. military strike on Iran. Broader risk assets came under pressure as investors reacted to the escalating situation in the Middle East. Comments made by former President Donald Trump regarding China added a further layer of uncertainty to global markets. The combination of geopolitical unrest and renewed fears of U.S.-China friction dampened investor appetite for riskier assets like cryptocurrency.

0 comments Read more at CoinDesk