Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Ethereum Forum => Ethereum News & Updates => Topic started by: Cristiano on June 05, 2021, 02:30:35 PM
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After reviewing Ether (ETH) options for June 25, one might think that traders either became overly optimistic or ultra-bearish. Currently, there are large bets for prices below $1,000 while others aim for $3,800 and higher.
A recent report from Coinshares shows that multiple crypto funds have begun seeing net inflows after weeks of record outflows. The report notes that Ether vehicles saw a total of $47 million in inflows, bringing its market dominance up to 27%.
DeFi growth supports higher Ether prices
Another positive factor is that DeFi protocols maintain a $48 billion total value locked (TVL) even though the sector took a substantial hit after the recent Ether price crash.
Ethereum network net value locked on smart contracts. Source: DeBank
The 57% increase over the past three months should please even the most optimistic investors, but crypto traders notoriously exaggerate whatever situation took place over the most recent weeks. Therefore, as Ether dropped from the $4,380 all-time high on May 12, traders quickly scrambled to set up protective puts down to $400.
On the other hand, the much-anticipated transition to a proof-of-stake consensus model could be the root of the positive expectations. The EIP-1559 improvement proposal set for next month is another significant stepping stone, and some traders have price targets ranging from $4,000 to $10,000.
More information (https://cryptonews.net/en/news/ethereum/753325/)