History: Ethereum outperforms Bitcoin in the options market

Holly Flip- August 1, 2022 will remain in the history of the fratricidal struggle between the two stellar currencies of the cryptocurrency market, Bitcoin (BTC) and his eternal dolphin, Ethereum (ETH). Indeed, today, and for the first time, the latter has “scared” the former on the iconic options market. A metric as symbolic as it is strategic, which could trace the contours of the future destiny of the two digital assets.

Bitcoin in full swing

The debate around the reverse (this moment expected or feared according to your own beliefs in which Ethereum could hypothetically surpass Bitcoin in terms of market cap) is particularly recurrent, even if the creation of Vitalik Buterin it prepares to undergo a major change in its structural model in a few weeks.

This shift from proof-of-work to proof-of-stake, scheduled for September, is the subject of much speculation. On the one hand, those for whom ” Everything will change, but nothing will change “ facing a Bitcoin which is by nature impossible to compete. And, on the other hand, those who believe it The merger (the small name of this event) will be likely upset the natural order of crypto things. An upheaval that could ultimately have a major impact on Ethereum’s overall valuation, esteem even of its creator.

But, if it’s just conjecture, there are several areas where Ethereum is on par with Bitcoin, if not even above it. If we can quote mining revenuefor example, or even the number of daily transactions, it is today on the options market that another “flipping” has just occurred.

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Ethereum puts Bitcoin on the options market

the options market it is thrilling as it embodies perhaps the best arena where supply and demand collide. A struggle, not only for the present, but also and above all for the future. In fact, speculators execute you betting on the future through dedicated financial vehicles (derivatives). These derivatives are based on the dynamics of the underlying assets, all accompanied by projections over time. Each of these investments comes with an up or down bet (call And whore). Very speculative (and therefore to be approached with caution, as the AMF recalls), the options market it is particularly popular with cryptocurrency investors and acts as a relevant thermometer on market dynamics in general.

However, today, and for the first time, Ethereum options have outperformed their Bitcoin equivalent.

In the market Deribed (the largest in the industry) the volume of options open on Ethereum is therefore currently $ 5.7 billion, this is 32% more than the $ 4.3 billion frozen in bitcoin options operations.

It should be added that the global trend concerns rather the bets on a rise in the price of Ethereum, thanks to the next The Merge, an event feverishly awaited by the entire sector, well beyond the only one. passionate of the good.

The near future should allow us to determine whether this type of overshooting specific technical or metric points is a harbinger of paradigm shifts or, ultimately, just represents the fever of a market known for its perpetual volatility.

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