CDS Crypto News APE Options Surge 800% in One Day on PowerTrade, Call Options Lead the Charge
Crypto News

APE Options Surge 800% in One Day on PowerTrade, Call Options Lead the Charge

206
Ape Options Surge 800% In One Day On Powertrade, Call Options Lead The Charge

APE Options Surge on PowerTrade: 800% Rise in Open Interest Sparks Bullish Sentiment

The recent strong positive trend is anticipated to continue shortly, according to options activity on PowerTrade, a cryptocurrency exchange that specializes in derivatives linked to altcoins. PowerTrade reported on Monday that open interest, or the quantity of active APE options contracts, increased by more than 800% to 263,000 ($394.5K) in a single day. The company also stated that call options or derivatives, which provide asymmetric upside potential, make up more than 80% of the total. 

APE Options Surge: October Expiry Contracts See Record Activity on PowerTrade

Ape Options Surge October Expiry Contracts See Record Activity On Powertrade

The October 22 and October 25 expiry contracts see the most activity, with traders purchasing higher strike out-of-the-money (OTM) calls at strikes as high as $2.2, or about 50% above APE‘s prevailing market price. Given that the token has a market valuation of under $1 billion and reflects increasing complexity in the altcoin arena, the activity in APE options is significant. Nevertheless, compared to the billions of dollars trapped in BTC and ETH options contracts posted on the top exchange Deribit, open interest and volume are significantly smaller.

One contract represents one APE as the underlying in PowerTrade’s European-style USD-settled options. The platform hopes to offer options linked to several other cryptocurrencies, including EIGEN, APT, ARK, and PYTH. On Monday, it saw a record trading volume of $50 million in options attached to 44 altcoins.

For more up-to-date crypto news, you can follow Crypto Data Space.

Ape Options Surge 800% In One Day On Powertrade, Call Options Lead The Charge 264351
Written by
lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

Leave a comment

Leave a Reply

Related Articles

Trump Family Eyes Ethereum: A Bold Step Into the Crypto World?

The Trump family is reportedly exploring deeper involvement in the cryptocurrency space,...

Bitcoin News – Bitcoin’s Role in the Global Economy: Goldman Sachs CEO’s Perspective

Goldman Sachs CEO David Solomon stated that Bitcoin is not a threat...

Market Trends You Need to Know Before Wednesday’s Trading Begins

Stocks rise on Trump’s tariff shift, Netflix soars, United Airlines exceeds forecasts,...

AI16Z Token Sees Major Price Surge Amid Increased Demand

AI16Z token surges 44% to $1.25, driven by exchange listings, partnerships, and...