Crypto

APE Traders Make Bold Moves in PowerTrade’s Altcoin Options Market

PowerTrade revealed that open interest, which represents the number of active APE options contracts, experienced a remarkable surge of over 800% in just one day, reaching 263,000 ($394.5K). The majority of this open interest is made up of call options, a type of derivative that offers an asymmetric upside potential.

Call options, where buyers are betting on a price increase of the underlying asset, account for more than 80% of the total open interest. This surge in call options indicates that investors are bullish on APE and anticipate a positive price movement in the near future.

Carmen Brooke Martin

Finance Analyst Hello, my name is Carmen Brooke Martin and I am an expert finance journalist with a master's degree from New York University in Business and Economics. I'm passionate about helping startups spread the word, discover and promote great projects in the crypto and fintech industry. What I am working on is to provide basic cryptocurrency education and benefits to the crypto community through video tutorials and written content. As a business developer, I help crypto projects structure and create a whitepaper that can stir investors' interest, advice on marketing strategies and promotions.

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