RATE Group | Over Million USD Bets Placed on Ethereum Reaching USD 600 by March
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Over Million USD Bets Placed on Ethereum Reaching USD 600 by March

29 Jan Over Million USD Bets Placed on Ethereum Reaching USD 600 by March

Posted at 15:26h in Ethereum News by

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Over Million USD Bets Placed on Ethereum Reaching USD 600 by March 101
Source: iStock/fergregory

Significant financial bets in the form of ethereum (ETH) call options have been seemingly placed by a trader or group of traders who are going in big in the hopes that ETH will exceed USD 600 before the end of March, just two months from now.

As of pixel time (12:21 PM UTC), ETH is trading at about USD 176, up 2.6% in a day and 4.7% over the past 7 days. Bitcoin (BTC), meanwhile, is up 7% over the past 7 days, and is up by 2.7% in the past 24 hours.

The massive trades were first highlighted by CEO of Three Arrows Capital Su Zhu, who on Twitter shared a screenshot which highlighted ethereum options contracts for nearly ETH 9,000 (USD 1.57 million) expiring in March on Deribit Exchange.

The options contracts highlighted in the screenshot have strike (also known as exercise) prices of USD 520…

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