On May 7, a total of $470 million in Ethereum options are set to expire, and slaughter is really the only word that describes what is about to happen to bearish Ether traders.
Currently, almost every single one of the 75,909 put (sell) option contracts will become worthless if Ether manages to remain above $3,100 until Friday 8:00 AM UTC.
Ether’s growth has been fueled by decentralized finance (DeFi) growth, which has recently surpassed $60 billion in net value locked, according to Debank. Yat Siu, the chairman and co-founder of Animoca Brands, perfectly described the scene when he said:
“DeFi will shape finance in incredibly fundamental ways. Perhaps the biggest way (including in China) is in financial education.”
Yat Siu added:
“Imagine a world where financial inclusion is not just about having a bank account, but about being able to easily and effectively participate in various capital opportunities.”
While this may have sounded futuristic one year ago, the Ethereum network opened the