Ethereum Hodlers BE READY! (WHY NEXT 24 HOURS ARE HUGE) | Crypto News
Altcoin daily my name's austin in the latest news involving altcoins. The latest metaverse news and of course. If you hold ethereum why the next 24 hours are very very important.
If you're interested in making money with cryptocurrency click subscribe. We drop a video every single day demystifying this cryptocurrency market let's jump in first up we have to talk about ethereum huge green flag huge green flag.
If you're an eth hodler warner brothers to launch red pill nft avatars for their new movie the matrix resurrections so owners of these matrix-themed nft avatars will be forced to choose between.
A blue pill and a red pill variant upon purchasing them think about this this is the first time in history that we have major movie studios encouraging you encouraging their audience to download an ethereum wallet get a little bit of eath all thanks to nfts per the hollywood reporter social nft platform nifties will launch one hundred thousand avatars themed around.
The matrix with our special red pill feature meaning that once you get the nft you can either choose between a blue pill where your avatar's character will remain in the matrix or you can choose the red pill where.
Your avatar transforms into a resistance fighter of course all transparent on the blockchain i think we'll probably see an overwhelming majority of people choose.
The red pill but we'll see we'll see in a direct quote from warner brothers as to why nfts why now with this movie if you think about all the ways fans of content can interact with their favorite characters and stories in 2021 retail stores.
Theme parks social media collectibles online shops digital art and collectibles are certainly on that list now so they're saying why wouldn't we nfts ethereum arepart of .
The culture now why wouldn't we offer this to the fan base if you are a fan of the matrix comment down below and if you hold ethereum i would pay close attention to what is happening in the next 24 hours on friday over 540 million dollars worth of ethereum options contracts expire now luckily.
Those contracts do favor traders with eth targets at 5k and generally speaking when options contracts expire especially for these high amounts it's always wise to expect volatility in either direction and the good news is the bulls in this case seem to be winning the november half a billion ethereum options expiry may appear to be an uncontested victory for the bulls right now but this wasn't.
- The case even just a couple weeks ago and just to clue everybody in if you
- don't know what an options contract is essentially there are call options and
- put options basically meaning bullish or bearish buy options or sell options.
Where you bet at a certain date where the future price of an asset will be and then you have the option to either callor put buy or sell that contract so when the contracts expire tomorrow.
What should we expect as eath holders at first sight the 300 billion put sell options dominate the weekly expiry by 20 percent compared to the 240 million dollar call by instruments still the 0.8 call to put ratio is deceptive because the recent rally will.
Likely wipe out most of the bearish bets and what this means is that even though many many people seem to have been betting against the etherium price because the price has shown such strength such a rally in these recent weeks the bears look like they're about to get wiped out but then again that all depends on where.
we end up tomorrow for example if ethereum's price remains above 4 500 at 8 am utc tomorrow only 1.5 million dollars worth of those put sell options will be available at the expiry meaning there is no value in a right to sell ethereum at 4 500 if.
It's trading above that price meaning the bulls win and here are the four most likely scenarios you should watch out for depending on the expiry price the quantity of call buy put sell contracts becoming active varies so just under 4 500 meaning between 4 300 and 4 400 the
call to put options pretty even the net result is balanced between bulls and bears and of course if the price can sustain higher way more calls weigh less puts weigh more calls weigh less puts and if the eth price closes anywhere above 4700 that's over 22 000 calls versus zero puts that's what we like that would be the best case scenario for eth in the short term and the reason i say expect volatility as an eath holder is because ethereum much like crypto trades 24 7.
365 and it trades globally so thE bearers need a six percent correction by tomorrow to reduce their loss it would be in their own best interest to suppress the price and of course.
The video comment section i really would love to hear your take and by the way for those who haven't feel free to hit the bell notification for this channel so when we drop a video you see this information first next up i do want to take 60 seconds and share.
With you a channel announcement that i'm personally very proud of ok coin which is a fully regulated us-based exchange has just signed on with us altcoin daily for a long-term partnership there is a link for ok coin down below in the video description check it out but generally speaking what is ok coin.
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