• Over $2.2B worth of Bitcoin options are set to expire on May 26th.
• Ethereum exchange balance has dropped to a five-year low.
• Tether’s holdings of US treasuries currently rivals the world’s wealthiest countries and USA Bitcoin mining pools have surged to over 50% of hash rate.
Bitcoin Options Expiry
Over $2.2B worth of options for Bitcoin are set to expire on May 26, according to Deribit data as of May 23. The expiration date is when buyers and sellers who entered into an options contract must make good on their respective obligations, leading to potential volatility in the market until then. The contract up for expiry are valued at around $2.3 billion with a 0.38 Put Call Ratio, whereas the max pain price is $27,000.
Ethereum Exchange Balance Drops
The Ethereum exchange balance has dropped to a five-year low as Ether (ETH) outflows have been greater than inflows in recent days, signaling that traders may be selling off ETH holdings in anticipation of the options expiration date. This could lead to some short-term downward pressure on ETH prices as investors look to cash out their positions ahead of time.
Tether’s Holdings Of US Treasuries
Tether’s holdings of US treasuries currently rivals the world’s wealthiest countries, putting them in competition with MicroStrategy which recently announced plans to buy more Bitcoin every month going forward and likely causing some volatility in the crypto markets in the process. This could also affect ETH prices as investors adjust their positions accordingly before and after the options expiration date arrives.
USA Bitcoin Mining Pools Surge
USA Bitcoin mining pools have surged past 50% for the first time since 2019, meaning that miners based in America now control over half of all hash rate globally and thus hold significant sway over network security decisions such as block size or transaction fees etc.. This could also influence prices depending on how miners decide to use this newfound power moving forward so it will be something worth watching out for heading into May 26th expiry date as well as afterwards too..
Bitcoin Now Second Largest Chain By NFT Volume
Finally, Bitcoin is now officially the second largest chain by NFT volume with more than $100 million being transacted within its ecosystem daily according to CryptoSlate data from April 2021 onwards – surpassing Ethereum’s daily NFT transactions which totaled just under $90 million during that same period . This indicates growing interest from users looking for alternative ways of investing using cryptocurrency so watch out for potential upside surprises when these figures are updated next month after May 26th expiration date passes by without any major issues occurring .