$1.26B in Ethereum options expire on Friday and bulls are ready to push ETH price higher

$1.26B in Ethereum options expire on Friday and bulls are ready to push ETH price higher


Ether’s (ETH) 53% rally between July 13 and 18 gave bulls an edge in July’s $1.26 billion monthly options expiry. The move happened as Ethereum developers set a tentative date for the “Merge,” a transition out of the burdensome proof-of-work (PoW) mining mechanism.

Ether USD price index, 12-hour chart. Source: TradingView

According to some analysts, by removing the additional ETH issuing used to finance the energy cost required on traditional mining consensus, Ether could finally achieve the “ultra-sound money” status.

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

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Merge sets effects on monetary policies of Ethereum to become Ultrasound money.

(10/15) pic.twitter.com/9hWjhuGpNK

— Akshay Jain (@akshayjain865) July 25, 2022

Whether or not sound monetary policy revolves

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