Ether Options Trading Volume Surpasses Bitcoin As Shanghai Upgrade Drives Demand for Bullish Bets
The options market for ether has seen more activity than bitcoin in the past 24 hours, with ether options contracts worth $1.23 billion exchanging hands across major exchanges, including Deribit, according to data tracking website Laevitas. This is nearly 60% of the global crypto options activity and 50% more than bitcoin's trading volume. The recent pick-up in activity in the ether options market comes after Ethereum's successful implementation of the Shanghai upgrade, which has opened withdrawals of over 18 million staked ether in the network since December 2020, boosting investor interest in ether call options. The increased demand for ether calls is evident from the short-term and long-term options skew, which have flipped positive.
Ether, Dogecoin Lead Crypto Market Bounce; Lido's Staked Ether Breaks Into Top Ten
The successful rollout of the Shapella upgrade on Ethereum has led to a surge in ether and other alternative cryptocurrencies, fueling the "alt season" narrative on Crypto Twitter. Ether gained over 10% in the past 24 hours, trading at 11-month highs above $2,120 during Asian trading hours. The Shapella upgrade allowed users to stake and unstake tokens from the network at will, improving the network's overall outlook. Governance tokens of liquid staking protocols like Lido and Rocket Pool saw outsized gains, with Lido's staked ether tokens (STETH) climbing into the top ten cryptocurrencies by market capitalization of $12 billion. The ability for users to withdraw their tokens will support healthy competition across platforms and providers, according to Valerie Tetu, head of strategy at Lido Finance. Dogecoin also gained for the second-straight day, potentially due to eToro's announcement that it would offer crypto trading directly from Twitter. Cardano surged nearly 9% on the back of fundamental growth in the Cardano network, such as wider support for decentralized application development. Some market observers expect the rally to continue over the next few weeks.
Bitcoin’s Dominance Knocked by ETH’s Post-Shapella Rally
The market share of Ethereum (ETH) has climbed to 19.8%, an increase of over 1.1% in the last 24 hours, while Bitcoin's market dominance has fallen by just under 1%, according to data from analysis site btctools.io. Since the beginning of the year, ETH's dominance has increased by 7.6%, while Bitcoin's market dominance has fallen to 47.7%. The rise in both BTC and ETH's market share has come at the expense of altcoins, most of which have been lackluster during the recent rally of the two top coins. Ethereum's surge has been driven by a successful Shapella upgrade on April 12, which released staked ETH on the Beacon Chain. (Cointelegraph)
Ethereum Researcher Says Staking Reveals IP Address Sparking Privacy Concerns
A researcher at the Ethereum Foundation (EF) revealed that the IP addresses of Ether <a href="https://cointelegraph.com/ethereum-price" target="_blank"></a>stakers are monitored as part of a broader set of metadata, causing the cryptocurrency community to flag Ethereum for privacy concerns.
On-Chain Spread Trading Platform Pear Protocol Raises $1.25 Million in Seed Investment Round
Pear Protocol, an on-chain spread trading platform, has raised $1.25 million in its latest seed investment round. The dapp will launch on Ethereum layer-2 Arbitrum and will allow traders to use their entire portfolio as collateral to cover various positions, making it easier to pair trade on decentralized derivative platforms.
Ethereum Crosses $2,000 For The First Time In 2023, But Does The Rally Have Legs To Keep Running?
As of this writing, Ethereum recorded an 8-month high, climbing north of $2,000 for the first time in 2023 and potentially reaching its next resistance area.
EOS Adds Ethereum Interoperability After More Than a Year of Development
EOS is becoming interoperable with Ethereum.
Merkle Trees: Unraveling the Magic Behind Cryptocurrency Exchange Security
Today, we’re diving deep into the thrilling world of Merkle trees and their crucial role in securing your precious cryptocurrency balances on exchanges. Buckle up, because we’re about to reveal the magic behind these ingenious data structures and how they work.
Ethereum (ETH) Hits $2,000 Mark Following Shanghai Upgrade Launch
Almost 24 hours ago, the Ethereum (ETH) long-awaited Shanghai Upgrade took place successfully. Many have anticipated a dip alongside the upgrade. However, contrary to expectations, the price of Ether (ETH) has been on an upward trajectory since the upgrade took place.
