Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
First Mover Americas: Traders Place Big Bets on Ether for Second Half of 2023

First Mover Americas: Traders Place Big Bets on Ether for Second Half of 2023

CoindeskCoindesk2023/07/03 12:27
By:Lyllah Ledesma

The latest price moves in crypto markets in context for July 3, 2023.

(Unsplash, Kanchanara)

This article originally appeared in , CoinDesk’s daily newsletter putting the latest moves in crypto markets in context..

CoinDesk - Unknown

Ether, the token of the Ethereum blockchain, jumped 61% in the first six months of the year. Traders are now the rally could extend in the second half. On Friday, an investor purchased roughly 63,250 "bull call spreads" tied to ether and due for expiry on Dec. 29, according to data source Amberdata. The trade involved the sale of a call option at the $2,500 strike price to partly fund the purchase of a call option at the $1,900 strike. The strategy cost an initial $10 million because the trader entity shelled out more to buy the $1,900 call than they received from selling the $2,500 call. A call buyer gets protection from the seller against price rallies. In return, the seller receives an upfront premium from the buyer.

The U.S. Securities and Exchange Commission’s (SEC) stance on spot bitcoin exchange traded funds (ETF) is a difficult one to hold, and the probability for approval is fairly high, brokerage firm Bernstein said in a research Monday. Bernstein notes that the SEC already allows futures-based bitcoin ETFs, and recently approved on the premise that futures pricing comes from a regulated exchange like the CME. According to analysts led by Gautam Chhugani, the SEC believes that a spot bitcoin ETF would not be dependable because the “spot exchanges (e.g. Coinbase) are not under its regulation, and thus spot prices are not reliable and prone to manipulation.”

Crypto service providers in Singapore would to deposit customer assets into a statutory trust before the end of the year for safekeeping, the Monetary Authority of Singapore (MAS) on Monday. The requirement comes after the MAS received around enhancing customer protection initiated in October 2022. "This will mitigate the risk of loss or misuse of customers’ assets, and facilitate the recovery of customers’ assets in the event of a DPT (Digital Payment Token or Cryptocurrency) service provider’s insolvency," the central bank said. The MAS has also restricted cryptocurrency service providers from facilitating lending and staking of tokens by their retail customers but institutional and accredited investors could continue to take advantage of these services.

CoinDesk - Unknown

Edited by Sheldon Reback.


3

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Liquidity Protocol Advancements Driving On-Chain Derivatives Expansion: Hyperliquid (HYPE)'s Tactical Momentum in 2025

- Hyperliquid (HYPE) redefines DeFi derivatives in 2025 via cross-chain liquidity protocols and institutional partnerships, driving a 70–80% market share. - Its HyperCore blockchain introduces a first-of-its-kind on-chain order book (CLOB), enabling sub-second finality and 200,000 orders/second processing. - Strategic USDH stablecoin auctions and 92% fee buybacks create a flywheel effect, with $15B open interest and $29B daily volumes by August 2025. - Institutional adoption via Circle's CCTP V2 and Anchor

Bitget-RWA2025/11/29 13:26
Liquidity Protocol Advancements Driving On-Chain Derivatives Expansion: Hyperliquid (HYPE)'s Tactical Momentum in 2025

Resilient Entrepreneurs, Enduring Enterprises: Insights from Challenge-Forged Leaders for Shaping 2026 Investment Approaches

- The article highlights how founders overcoming adversity drive resilient businesses, offering key insights for 2026 investment strategies. - Case studies of Chung Ju-Yung (Hyundai), John Garrett (Community Impact), and modern innovators show operational discipline, long-term vision, and adaptability as critical success factors. - Resilient founders leverage frugality, market-specific strategies, and incremental growth to outperform peers in volatile markets according to business analysis. - Investors are

Bitget-RWA2025/11/29 13:26
Resilient Entrepreneurs, Enduring Enterprises: Insights from Challenge-Forged Leaders for Shaping 2026 Investment Approaches

Trump's Record Market Gains Contrast with Crypto's 30% Decline and Widening Retirement Gap

- Trump's administration highlights record financial markets and falling inflation as key achievements, despite crypto markets dropping over 30% from October peaks. - Retirement savings inequality emerges as average 401(k) balances reach $144,400 while median figures lag, exacerbating generational wealth gaps. - Tariff revenues hit $31B in October, fueling Trump's $2,000 stimulus pledge, though economists warn $300B annual costs could strain fiscal sustainability. - Political challenges mount as Trump's $2

Bitget-RWA2025/11/29 13:24
Trump's Record Market Gains Contrast with Crypto's 30% Decline and Widening Retirement Gap

Partnerships and Revenue: The Critical Formula for Success in the AI Industry

- C3.ai struggles with losses despite stock gains from Microsoft partnerships, raising profitability concerns. - Salesforce demonstrates strong financial resilience with 9.8% YoY revenue growth and stable EPS forecasts. - AI sector divergence highlights importance of scalable business models amid regulatory and market challenges. - Strategic cloud integrations and recurring revenue models emerge as critical factors for long-term competitiveness.

Bitget-RWA2025/11/29 13:24