Skew: 50% of CME Bitcoin (BTC) Contracts to Expire This Friday

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Tue, 05/26/2020 - 12:02
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Vladislav Sopov
Many crypto derivatives contracts will expire Friday May 29th. Skew analysts noticed that a major portion of contracts on CME will close on this day.
Skew: 50% of CME Bitcoin (BTC) Contracts to Expire This Friday
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After printing a number of records in Q1, 2020, Bitcoin (BTC) contracts may turn the tables on the last hope for Bitcoin (BTC) bulls.

Watch the rolls

The skew analytical team, which tracks Bitcoin (BTC) and cryptocurrency derivatives trading, predicts the significant impact of the upcoming expiration of contracts.

According to the researchers, 23,000 Bitcoin (BTC) equivalent futures and 10,000 Bitcoin (BTC) options are set to expire this Friday on Chicago Mercantile Exchange.

These impressive numbers account for 50% of all open interest for each product at printing time. 

Let us recall that the Bitcoin (BTC) futures open interest on CME witnessed solid growth this spring. The figure spiked 900% in one month.

Sensitive moment

The overall Bitcoin (BTC) market sentiment is adding fuel to the fire on the eve of this huge expiration.

The bullish momentum of the first days of May has been replaced with a deep bearish correction. As a result of two massive Coinbase sell-offs, Bitcoin (BTC) is trading 11% down from its local high.

Some patterns revealed by top traders unveil that this painful correction may be nowhere near its end. 

According to seasoned trader and analyst, Scott Melker, the Bitcoin (BTC) price tanked below its 200 moving average (MA) on the four-hour time frame which may bring about more pain for bulls.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250

News
Fri, 01/15/2021 - 18:02
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Vladislav Sopov
Ethereum 2.0 enthusiasts deposited whopping sum in its contract launched six weeks ago
2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250
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Contents

While crypto markets are trying to get out of the most painful correction in this bullish cycle, the Ethereum 2.0 deposit contract accomplishes another crucial milestone.

ETH2 deposit contract surpasses $3,000,000,000 level

According to leading Ethereum network observer Etherscan, the Ethereum 2.0 deposit contract (0x00000000219ab540356cBB839Cbe05303d7705Fa) allocated more than 2.5 million Ethers. New 32-ETH stakes are transferred to it every minute.

ETH2 deposit contract breaks above $3B
Image by Etherscan

As the correction of the Ethereum (ETH) price ended, ETH is changing hands at $1,225: the $1,250 level was too difficult for bulls to conquer. Meanwhile, even at press time, it is worth almost $40,000 to join the club of Ethereum 2.0 stakers.

Therefore, the USD-denominated value of assets locked in the contract surpassed $3 billion for the first time ever and keeps surging.

It should be noted that Ethereum 2.0’s deposit contract went live on Dec. 1, 2020, heralding the start of ETH2 Pase Zero or Beacon Chain, the inaugural stage of Ethereum 2.0.

Ethereum 2.0 “entry tickets” become really expensive

At press time, more than 52,267 addresses transferred money to the deposit contract.

Ironically, Black Thursday in Crypto (March 13, 2020) was the most convenient time to join Ethereum 2.0 staking with Ether at $95. Today, Ethereum (ETH) enthusiasts should pay 13 times more to have a minimum amount of Ethers required for staking.

Ethereum 2.0 is a proof of stake (PoS) iteration of the Ethereum (ETH) protocol. It replaces mining by staking and splits the whole Ethereum (ETH) network into several interconnected sub-chains (shards).

According to Staking Rewards analytical dashboard, annualized rewards for ETH staking are estimated between 10.4 and 10.6 percent.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)