The options market remains more bearish on ether than bitcoin., a so-called whale, who began trading the Ethereum blockchain's native token in 2017 moved a large chunk of it to crypto exchange Binance on Wednesday, in a possible precursor to liquidating the holding.transferred 12,000 ETH to Binance, according to blockchain sleuth Lookonchain. That's about 0.01% of the total circulating supply of the second-largest cryptocurrency by market cap.
Moving coins into addresses tied to cryptocurrency exchanges often indicates an intention to sell or deploy coins as a margin in derivatives trading. Thus, a large inflow of coins frequently presages increased price volatility. It's possible the whale was looking to sell the cryptocurrency on the rise. Ether rose 11% to $3,500 on Wednesday, reversing a Tuesday slide. At press time, it was trading at $3,535, according to CoinDesk data., a move that would derail plans for listing spot ether exchange-traded funds in the country and subject ETH and projects interacting with Ethereum to more stringent regulation..
A put option gives the purchaser the right but not the obligation to sell the underlying asset at a predetermined price on or before a specific date. A put buyer is implicitly bearish on the market, looking to profit from or hedge against an impending price drop.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.