{"id":29943,"date":"2024-09-26T18:30:39","date_gmt":"2024-09-26T15:30:39","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=29943"},"modified":"2024-09-26T14:32:48","modified_gmt":"2024-09-26T11:32:48","slug":"ether-eyes-2700-amid-upcoming-2-78-billion-option","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/ether-eyes-2700-amid-upcoming-2-78-billion-option\/","title":{"rendered":"Ether Eyes $2,700 Amid Upcoming $2.78 Billion Options Expiry"},"content":{"rendered":"

Having acquired 15.1% between Sept. 18 and Sept. 23, Ether ( ETH)<\/strong> is trying to keep its position above the $2,600 resistance mark. Weak macroeconomic data and a stock market comeback that raised demand for temporary government bonds have helped to underpin the climb. Traders are currently eagerly observing the forthcoming $2.78 billion monthly Ether options expiry on Sept. 27, which could decide the sustainability of this optimistic momentum.<\/p>\n

The U.S. Federal Reserve’<\/strong>s interest rate decreases, which indicate a change toward more supportive monetary policy, have mostly fuelled the price surge. Consequently, on September 24 the S&P 500 reached an all-time high. Further driving Ether’s price was the decline in the S&P Global Manufacturing PMI on September 23, which begged questions about the state of the economy.<\/p>\n

Investors seeking safer government-backed assets have driven yields on the U.S. 2-year Treasury note down to a 24-month low, therefore favoring limited assets like Ether. Ether is still down 33% over the previous four months, following the poor debut of a spot exchange-traded fund (ETF) that resulted in $684 million in outflows, notwithstanding the present surge.<\/p>\n

Among the $2.77 billion in open interest for Ether options are $0.95 billion in put (sell) options and $1.82 billion in call (buy) options. Bulls seem to have the upper hand with $1.47 billion of call options aimed at pricing of $2,700 or higher. But if Ether doesn’t reach that price by Sept. 27, these options will expire worthless, so providing bears a possible benefit.<\/p>\n

Demand for Ether’s smart contract processing features has soared as its price grows; a 15% increase in transactions on the Ethereum network has resulted in an average transaction fee increase. Ether’s supply has expanded meantime; 58,856.4 ETH added in the past 30 days reflects a 0.6% yearly inflation rate. Along with competition from sites like Solana and BNB Chain, this surge in supply begs questions about Ether’s capacity to surpass $3,000.<\/p>\n

Ether bulls will have to raise the price over $2,700 if the $2,600 support level is broken in order to significantly advantage from the options expiry approaching; bears may lock in a $100 million win.<\/p>\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our<\/span><\/i> Telegram,<\/span><\/i><\/a> YouTube<\/span><\/i><\/a>, and<\/span><\/i> Twitter<\/span><\/i><\/a> channels for the latest<\/span><\/i> news<\/span><\/i><\/a> and updates.<\/span><\/i><\/p>\n

The information in this article does not provide any investment advice.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

Having acquired 15.1% between Sept. 18 and Sept. 23, Ether ( ETH) is trying to keep its position above the $2,600 resistance mark. Weak macroeconomic data and a stock market comeback that raised demand for temporary government bonds have helped to underpin the climb. Traders are currently eagerly observing the forthcoming $2.78 billion monthly Ether<\/p>\n","protected":false},"author":6,"featured_media":25328,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,1],"tags":[6303,105],"class_list":["post-29943","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-genel","tag-ether-eth","tag-ethereum"],"yoast_head":"\nEther Eyes $2,700 Amid Upcoming $2.78 Billion Options Expiry - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/ether-eyes-2700-amid-upcoming-2-78-billion-option\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ether Eyes $2,700 Amid Upcoming $2.78 Billion Options Expiry - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Having acquired 15.1% between Sept. 18 and Sept. 23, Ether ( ETH) is trying to keep its position above the $2,600 resistance mark. 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