Approximately $2.7 billion in Bitcoin and Ether options are set to expire on May 24, offering key insights into market sentiment.
According to Greeks.live on X, 21,000 Bitcoin options are expiring, with a put/call ratio of 0.88.
This shows a near-even balance between buyers and sellers, with a slight lean towards call options.
The maximum pain point, or the price at which most option buyers would incur losses, is $67,000, totaling a nominal value of $1.4 billion.
While the upcoming 21,000 contract expiry is significant, it is overshadowed by a larger event on May 31, when $4.3 billion worth of options are set to expire, according to Deribit.
Deribit data shows that long positions dominate open interest (OI), with $830 million tied to the $70,000 strike price.
Higher strike prices also show significant OI, notably $843 million at the $100,000 mark, indicating a bullish sentiment among traders.
The $60,000 strike price stands out with $388 million in open interest, the most notable for put contracts.
This substantial OI suggests many contracts remain unsettled, showing that bulls are confident in much higher Bitcoin prices.
READ MORE: DePIN Service Dabba Expands Decentralized Internet Connectivity Across India
OI represents the unresolved value of contracts awaiting settlement.
The options expiry event also impacts Ether, with 350,000 contracts expiring, representing a notional value of $1.3 billion.
The put/call ratio of 0.58 and a max pain point of $3,200 suggest a slightly bullish tone, with more call options expiring than put options.
Greeks.live reports that Ethereum recently led the crypto rally, driven by ETF progress, with a one-day 20% rise.
The short-term options implied volatility (IV) reached 150%, much higher than Bitcoin’s current IV for the same period.
However, a divergence between Bitcoin and Ethereum is evident.
While Ethereum’s bullish sentiment remains strong, maintaining high IV levels for each major term is challenging from a market trading and structure perspective.
This suggests that calendar spreads might be a better choice. In contrast, Bitcoin appears more balanced between long and short positions, with stronger forces selling calls.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Recently, the sports betting scene has shifted quite a bit. The surge in cryptocurrency isn’t just a fleeting thing—it’s reshaping the iGaming industry and now making its mark on sports betting. As more cryptocurrencies gain popularity, top sports betting platforms are catching on and embracing this innovative payment method.
The current gambling scene, in general, is starting to shift towards prioritizing player safety. With even such infrastructure like multi-factor authentication, advanced encryption systems, and more put in place to safeguard players’ assets. Cryptocurrency can accomplish just that. As the most widespread decentralized finance option, cryptocurrency is the most secure payment method out there.
Why Do Cryptocurrencies Land Themselves So Well To Betting?
Cryptocurrencies and the blockchain technology at large has been disruptive to a variety of industries across the free market. The next on its list is sports betting. The easy adoption of such technology can be summed up to a few main features of all crypto shares.
- A Focus on Player Defenses
Since cryptocurrencies are built on a decentralized, encoded mechanism like blockchain, they provide one of the safest and most secure methods of payment out there. Bettors especially like to prioritize privacy. Hence, crypto lends itself perfectly to the betting scene. - Lightning-quick Transactions
Traditional banking methods just do not cut it anymore. Especially in the field of betting, where a split-second decision can spell either glorious victory or tremendous defeat. Cryptocurrencies, on the other hand, enable instant transactions, making deposits and withdrawals swift and hassle-free. - Miniscule Transaction Fees & Universal Availability
Another aspect in which traditional banking straight up loses to cryptocurrency. When it comes to transaction fees, cryptocurrencies have a major advantage over traditional methods—they’re significantly lower. Plus, unlike traditional payment methods, cryptocurrencies aren’t bound by territorial limits. This means that even in regions with strict gambling regulations, bettors can still participate in sports betting activities hassle-free.
Hugewin – a Major Player Embracing the Change
While the scene is drastically shifting, major players like Hugewin waste to time at all to jump fences and take advantage of cryptocurrency features. Hugewin steps forward proudly as it has integrated crypto into all of the facets of its platform, even the sports betting!
Spearheading the Crypto Adoption Trend
Hugewin spearheads its way into the cream of the crop of the sports betting scene by quickly implementing comprehensive cryptocurrency adoption mechanisms. Cryptocurrencies such as Bitcoin, Tron, Binance, and others can fuel player’s sports betting hobbies.
All these cryptocurrencies are available to bet with under Hugewin’s wide assortment of both real-life and video sports. Hugewin provides betting options for anything like football and basketball (including major league games). For fans of popular games like Zeppelin, Aviator, and Spaceman, Hugewin has you covered as well.
Polishing Up The Experience
Cryptocurrency adoption isn’t merely an alternative payment option. In Hugewin’s case, it specifically enhances the overall user experience. Lightning speed transaction fees, lowest fees of any financial option, and unparalleled security – all of these features provided by cryptocurrencies make the sports betting experience on the website seamless and incredibly responsive.
While crypto adoption is a significant step in Hugewin’s safety, it’s not the only thing contributing to it. Hugewin boasts that it is legislated under the Curaçao eGaming license. Being a licensed sports betting service is a big achievement for any platform in the industry. On top of that, Hugewin’s unmatched 24/7 user support is helpful and instills a much-needed feeling of trustworthiness and safety, which is not often felt in the industry.
Reaching a New Demographic
While improving user experience, Hugewin’s adoption of cryptocurrency also plays a role in attracting a new type of bettor to their platform. Hugewin is perfectly poised to reel in a newly emerging type of demographic – tech-savvy individuals from the mainstream.
This new demographic will be excited to hear that Hugewin offers a generous 100% welcome bonus on their first deposit. And once they’re reeled in, Hugewin keeps them there by providing them with a perpetual 5% bonus cashback on all sports betting. Even when you lose on Hugewin, you get something extra.
Unveiling the Future: Cryptocurrency Changes Sports Betting
The swift embrace of cryptocurrencies by sports betting titans is revolutionizing the industry, unlocking a treasure trove of benefits, including heightened security, lightning-fast transactions, and worldwide accessibility. Despite lingering hurdles, particularly in regulatory realms, the horizon gleams with promise for the fusion of digital currencies and sports wagering. As the landscape develops, the best is yet to come. So, stay tuned for the upcoming changes in the industry and among the best sport betting sites.
Early investors in memecoins like Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) made astronomical returns, and Kim Jong Crypto (KIMCRYPT) presents a similar opportunity for a limited time.
Kim Jong Crypto (KIMCRYPT), a newly launched Solana memecoin, is poised to explode over 14,000% in a matter of days, as former Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) investors pour funds into this new token.
KIMCRYPT will be listed on Bitrue, one of the largest centralized exchanges in the world, within a few days – and this is a massively bullish development for the token, as millions of new investors will easily be able to buy Kim Jong Crypto.
Currently, Kim Jong Crypto can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy KIMCRYPT on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Kim Jong Crypto by entering its contract address – DY225ypZiG3aYkZnzaXJYDGtUz76uNuQiJLMzs6qGAZ5 – in the receiving field.
KIMCRYPT currently has a market cap of just under $13,000, with over $4,000 in locked liquidity, meaning it has huge upside potential.
Early investors could make returns similar to those who invested in Shiba Inu (SHIB), Dogecoin (DOGE) and Bonk (BONK) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
Ether (ETH) could potentially retest the $5,000 price mark it narrowly missed in 2021 if three long-term indicators continue their current trends, according to one crypto trader.
“The dominance chart suggests we’re entering an ‘ETH Season’ where Ethereum is likely to outperform other cryptocurrencies,” said pseudonymous crypto trader Blockchain Mane in an interview with Cointelegraph.
This optimism follows the United States Securities and Exchange Commission’s (SEC) initial approval of eight spot Ether exchange-traded funds (ETFs) on May 23.
Data from TradingView reveals that ETH’s market dominance surged by 19.56% over the past week after reports suggested the SEC was shifting its stance on ETF approvals.
Blockchain Mane highlighted another key long-term indicator: the Fibonacci retracement.
This indicator predicts potential price levels where Ether might rebound, based on mathematical patterns from the Fibonacci sequence.
According to Mane, ETH is showing “resistance targets at $5,080.60 and $6,231.83.”
These levels are significantly higher than its all-time high of $4,878 in November 2021, as reported by CoinMarketCap.
At the time of publication, Ether is trading at $3,802.
READ MORE: Bitcoin Battles to Hold $69,000 as Analysts Eye Potential Retracement
The third indicator noted by Blockchain Mane is the parabolic curve, which identifies potential trend changes by placing dots above or below Ether’s price movements.
Mane observed that ETH is following a “bullish trend” along the curve, with three distinct phases: base one, base two, and base three.
“The parabolic curve indicates continued upward movement, especially after the falling wedge breakout,” Mane said.
Meanwhile, other crypto traders are focusing on shorter-term price actions amid the spot Ether ETF approvals.
“ETH is up more this week than the S&P 500 typically gives you in a year,” crypto commentator Benjamin Cowen said in a May 23 X post.
Crypto trader Matthew Hyland emphasized the importance of Ether holding support around $3,800 for continued momentum.
The price of Ether has remained relatively stable following the ETF approvals, likely because the news was already priced in and ETF trading has not yet begun.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Wizard Pepe (WIZPEPE) could turn early investors into multi-millionaires if it becomes a mainstream coin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
Wizard Pepe (WIZPEPE), a new Solana memecoin that was launched today, is poised to explode over 18,000% in price in the coming days.
This is because WIZPEPE has announced its first centralized exchange listing, which will be on KuCoin.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Wizard Pepe can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Wizard Pepe could become the next viral memecoin.
Wizard Pepe launched with over $6,000 of locked liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Wizard Pepe on Raydium or Jupiter ahead of the KuCoin listing, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Wizard Pepe by entering its contract address – AJM9tnhfGz9xezv1rTjspoTug3YVpcmrp3gJ9FMDEEYj – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like WIZPEPE.
Pepe Fuks Biden (PEPEFBID) could become a viral memecoin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
Pepe Fuks Biden (PEPEFBID), a Solana memecoin that was launched this week, is aiming to challenge other memecoin giants, such as Shiba Inu (SHIB) and Dogecoin (DOGE).
Early investors in SHIB and DOGE made astronomical returns, and Pepe Fuks Biden presents a similar opportunity.
Pepe Fuks Biden has a market cap below $15,000 at the moment, meaning that when it just reaches a modest market cap of $400,000-$800,000, early investors would generate returns of 2,000%-5,000% in a matter of days or hours.
The exciting memecoin is poised to rally 11,000% in the coming two days, and Pepe Fuks Biden could potentially reach a multi-million dollar market cap within a few weeks.
Currently, Pepe Fuks Biden can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy Pepe Fuks Biden on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Pepe Fuks Biden by entering its contract address – 4D3CzRs6n4hPrHJsqon5oDVKRe8nhaiBL1mQGowzhPvg – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like PEPEFBID.
Amid growing anticipation regarding the approval of a spot Ether exchange-traded fund (ETF) in the United States, global investment manager VanEck’s ETF has been listed by the Depository Trust and Clearing Corporation (DTCC) under the ticker symbol “ETHV” as of May 23.
The DTCC, an American financial market infrastructure provider, offers essential clearing, settlement, and transaction reporting services to financial market participants.
Being listed on the DTCC is a significant step towards receiving final approval from the U.S. Securities and Exchange Commission (SEC).
Currently, VanEck’s ETF is marked as inactive on the DTCC website, meaning it cannot be processed until it secures the necessary regulatory approvals.
Notably, VanEck is not the first to list an Ether ETF with the DTCC; Franklin Templeton’s spot ETH ETF was listed on the platform a month earlier.
The DTCC clarified that their ETF list includes both active ETFs ready for processing and inactive ones awaiting approval.
READ MORE: Bitcoin Hovers Near $67,000 as Traders Eye Key Resistance and Support Levels
In a related development, there are reports that SEC officials have contacted Nasdaq, the Chicago Board Options Exchange, and the New York Stock Exchange to update and revise existing spot Ether ETF applications.
The apparent shift in the SEC’s stance over the past week is believed to be influenced by the White House.
Crypto lawyer Jake Chervinsky observed on X that policy is influenced by politics, noting, “For months, crypto has been winning the political battle.”
He also speculated that former President Donald Trump’s endorsement of cryptocurrency might have prompted the Biden administration to adjust its policy.
The SEC faces a crucial deadline on May 23 for its decision on VanEck’s spot Ether ETF application.
After months of speculation about a likely denial of spot ETH ETFs, the SEC recently took significant action.
The Commission requested financial managers to amend and resubmit their 19b-4 filings for proposed spot Ether ETFs.
Some analysts interpret this move as a positive sign, increasing the likelihood of approval from 25% to 75%.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Gala Games’ CEO attributes a recent security breach, which led to a hacker stealing and selling $23 million worth of its GALA token, to “messed up” internal controls.
On May 20 at 7:32 pm UTC, blockchain analysts noticed that 5 billion GALA tokens, valued at $200 million at the time, were minted. The responsible wallet sold these tokens in batches.
The breach caused GALA’s price to plummet by 20%, hitting a 24-hour low of $0.038. However, the price has since rebounded slightly to $0.041, according to CoinGecko.
“We had an incident that resulted in the unauthorized SALE of 600 million […] GALA tokens and the effective BURN of 4.4 billion tokens,” stated Gala Games co-founder and CEO Eric Schiermeyer in a May 20 post on X (formerly Twitter).
“We messed up our internal controls,” he continued.
“This shouldn’t have happened, and we are taking steps to ensure it doesn’t happen again.”
Schiermeyer revealed that Gala identified the compromise and removed unauthorized access to the GALA contract.
He reassured users that the Ethereum contract “is secure” and “was never compromised.”
READ MORE: Notorious Crypto Drainer Pink Drainer Retires After Stealing Over $85 Million
Gala believes it has identified the person responsible and is collaborating with the FBI, the U.S. Justice Department, and international authorities, Schiermeyer noted.
In another post, Gala Games stated that the “security incident involving the GALA token has been contained and the impacted wallet has been frozen.”
Neither Gala Games nor Schiermeyer disclosed the identity of the individual responsible for the breach or the method used to gain access to the GALA contract.
Gala Games did not respond to a request for comment on the incident.
In a related development from August, Schiermeyer and fellow co-founder Wright Thurston filed lawsuits against each other.
Thurston accused Schiermeyer of causing Gala to “sell off and waste millions of dollars in company assets,” while Schiermeyer claimed Thurston stole $130 million worth of GALA tokens.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Pepe 69 (PEPE69) could become a viral memecoin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
Pepe 69 (PEPE69), a Solana memecoin that was launched today, is aiming to challenge other memecoin giants, such as Shiba Inu (SHIB) and Dogecoin (DOGE).
Early investors in SHIB and DOGE made astronomical returns, and Pepe 69 presents a similar opportunity.
Pepe 69 has a market cap below $15,000 at the moment, meaning that when it just reaches a modest market cap of $400,000-$800,000, early investors would generate returns of 2,000%-5,000% in a matter of days or hours.
The exciting memecoin is poised to rally 11,000% in the coming two days, and Pepe 69 could potentially reach a multi-million dollar market cap within a few weeks.
Currently, Pepe 69 can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy Pepe 69 on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Pepe 69 by entering its contract address – EvevUFVUUFR2NZVSkVzRTj1SQ6KRKdsZqdkpWinkh8m1 – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like PEPE69.
Pepe Fuks Biden (PEPEFBID) could become a viral memecoin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
Pepe Fuks Biden (PEPEFBID), a Solana memecoin that was launched today, is aiming to challenge other memecoin giants, such as Shiba Inu (SHIB) and Dogecoin (DOGE).
Early investors in SHIB and DOGE made astronomical returns, and Pepe Fuks Biden presents a similar opportunity.
Pepe Fuks Biden has a market cap below $15,000 at the moment, meaning that when it just reaches a modest market cap of $400,000-$800,000, early investors would generate returns of 2,000%-5,000% in a matter of days or hours.
The exciting memecoin is poised to rally 11,000% in the coming two days, and Pepe Fuks Biden could potentially reach a multi-million dollar market cap within a few weeks.
Currently, Pepe Fuks Biden can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy Pepe Fuks Biden on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Pepe Fuks Biden by entering its contract address – 4D3CzRs6n4hPrHJsqon5oDVKRe8nhaiBL1mQGowzhPvg – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like PEPEFBID.