Monthly $1.9B Ethereum futures and options expiry will determine if ETH hits $3K soon
Cointelegraph
Published May 27, 2021 04:04PM ET
Updated May 27, 2021 05:40PM ET
The May 28 futures and options expiry could be a turning point for Ether (ETH), as the cryptocurrency rebounded 60% from its $1,730 low on May 23. Even though the open interest stands at $6.2 billion, only 16% is set to expire on Friday, as most of the action takes place on perpetual and June contracts.
One must account for the options expiry, as it could present an imbalance of forces. This feature is not true for futures markets, where longs (buyers) and shorts (sellers) are matched at all times.
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Written By: Cointelegraph
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