Record High Number of Options Expire Today!

n Deribit’s case, this is just ~6k contracts, worth roughly $55m. Because the notional is relatively small compared to futures, it’s much less likely for whales to squeeze or manipulate. The remainder of contracts are likely to be rolled over with limited market impact.

Last week we talked about the DeFi boom and the momentum continues. COMP is maintaining a mkt cap of ~$2.4b, while the new kid on the block is BAL, Balancer’s governance token. Regardless of what Balancer is actually useful for, simply put, users can stake certain tokens via smart contracts and mine BAL. Some of these pools offer >100% APY if you include the mined tokens. Again, we need to be wary of whether these returns are sustainable as it highly depends on BAL token price.

In other news:

• ETH miners have agreed to raise gas limits by 25%. Should increase network’s TPS.
• Grayscale’s ETH product dumps as lockup ends. Premium is still >300%.
• Paypal rumoured to be preparing direct crypto purchases for its users.

Thanks for reading our article record number of options expire today. If you found this information helpful don’t forget to subscribe to our newsletter below!