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HomeNewsCrypto Whale Takes $150M Bullish Bet on Ether, Trading Data Tracker Shows

Crypto Whale Takes $150M Bullish Bet on Ether, Trading Data Tracker Shows

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TL;DR:

  • A crypto whale traded nearly 92,600 ETH call option contracts worth $150 million on Deribit in the past 24 hours.
  • The whale’s trades were all naked buys, indicating strong long-term bullish expectations for ETH.
  • The trades primarily focused on out-of-the-money calls at strike levels significantly above the current market price.
  • Ether (ETH) recently experienced a price rebound from a six-month low of $1,532 to $1,634 after concerns about FTX selling assets.
  • ETH is trading at a 27% discount to its fair value based on a Metcalf law model, considering active user adoption on both the mainnet and layer 2 scaling solution.

This recent surge in ETH call options by a whale is indicative of substantial optimism regarding Ethereum’s future performance and may influence market sentiment and trading strategies.

Source: Coindesk

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