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$1.26 billion worth of Ethereum options expires on Friday and bulls are ready to push the price of ETH higher
Ethereum network developers confirmed September as the date of the next Merge, a move that prompted traders to buy ETH.

Ether (ETH)’s 53% rally between July 13 and July 18 gave the bulls a head start on monthly options expiration of $1.26 billion in July. The change came as Ethereum developers set a tentative date for “Merge”, a transition away from the costly proof-of-work (PoW) mining engine.

On Beacon Chain, issuance will be around 1,600 ETH per day, lowering inflation significantly from 13,000 ETH per day on PoW.

The merge sets the effects on Ethereum's monetary policies to become the ultrasonic money

Ethereum will suffer an impact of BRL 7.6 billion this month, analyst warns

Altcoin Daily analyst and presenter Aaron Arnold argues that the value of Ethereum (ETH) could experience high volatility later this month. The forecast is based on the settlement of US$ 1.5 billion, about R$ 7.6 billion, in futures contracts on June 25th.

In a video published on his YouTube channel last Sunday (13), Arnold said that the price of cryptocurrency can vary in any direction. That is, a period of uncertainty may follow the broad settlement of futures contracts.

high volatility
To the channel's 842,000 subscribers, Arnold explained the effect of the settlement of futures contracts on the cryptocurrency price:

“Options expire every month. This in itself is not something new. The highlight is the June value, Ether will have the biggest maturity of 2021, around $1.5 billion in open contracts will be settled.”

The presenter also revealed that this month's volume is 30% higher than that traded in May, when the cryptocurrency plummeted by 17%.

“So expect volatility towards the end of the month,” he warned.

Up or down?
According to the analyst, it is not possible to predict the direction that the price of Ethereum will take after the settlement of contracts. However, Arnold says that expiry of trades does not necessarily indicate a drop in value.

“Last month, when those options expired, the market was a little higher. This month, options are expiring after this massive fix. So who knows? Maybe nothing will happen, but expect volatility. hold. Think long term,” he suggested.

At the time of writing this article, Ether is quoted at BRL 12,909.21, showing a growth of 1.24% in the last 24 hours.

In addition to Ethereum, Bitcoin will also have expired contracts on June 25th. Expert Justin Bennett predicts a new correction for the largest cryptocurrency by market cap.

“My theory is that if Bitcoin follows monthly futures expirations. […] We saw the top just after the beginning of April. If this theory holds up, we could see the bottom of cryptocurrencies around June 25.”

Possibly, the expert's argument is based on the influence of BTC on the rest of the cryptocurrency market.

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DISCLAIMER: I am not a financial advisor. The videos on my channel are for educational purposes only. I'm just showing you how I invest and day trade, but remember that investing of any kind involves risk. Your investments are solely your responsibility and not mine.

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