Ethereum

Bitcoin

Impact

Block

Notable

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/will-bitcoin-and-ethereum-options-impact-market-volatility/" data-wpel-link="internal">Will Bitcoin and Ethereum Options Impact Market Volatility?</a><br></p>
<p class="p1" style="text-align: justify">The expiration of $2.4 billion worth of <a href="https://en.coin-turk.com/bitcoins-notable-price-surge-key-drivers-explained/" data-wpel-link="internal">Bitcoin</a> and <a href="https://en.coin-turk.com/gnosis-chain-implements-milestone-update-with-type-3-blob-transactions/" data-wpel-link="internal">Ethereum</a> options on May 3 could increase market volatility. A Bitcoin option contract allows investors to speculate on Bitcoin price movements without owning the Bitcoin itself.</p> 
<p class="p1" style="text-align: justify">On May 3, options contracts for a total of 23,367 Bitcoins valued at $1.39 billion will expire. Data from the Deribit exchange shows that the put-call ratio for Bitcoin options is currently at 0.5, and the maximum stress point is $61,000. The maximum stress point represents the price at which the asset would cause financial losses for the largest number of owners.</p> 
<h2 class="p1" style="text-align: justify" id="block-s-notable-steps">Block’s Notable Steps</h2> 
<p class="p1" style="text-align: justify">Jack Dorsey, co-founder of Twitter and fintech firm Block Inc., stated he would allocate 10% of the gross profit from Bitcoin products to buying Bitcoin every month. In a shareholder letter dated May 2, which also included better-than-expected first-quarter results, Dorsey mentioned:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“Going forward, we will invest 10% of the gross profit from our Bitcoin products into purchasing Bitcoin every month. We were one of the first publicly traded companies to put Bitcoin on our balance sheet.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify">Block purchased $220 million worth of Bitcoin during the fourth quarter of 2020 and the first quarter of 2021. Block’s gross profit from customer sales through its Cash App business in the first quarter of 2024 increased by approximately 60% year-over-year to $80.1 million. 10% of this amount could buy around 1,350 Bitcoins at the current price of $59,250.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-347546" src="https://coin-turk.com/wp-content/uploads/2024/05/michael-.webp" alt="" width="500" height="220"></p> 
<h2 class="p1" style="text-align: justify" id="unrest-continues-in-nigeria">Unrest Continues in Nigeria</h2> 
<p class="p1" style="text-align: justify">A Nigerian judge has postponed the trial of <a href="https://en.coin-turk.com/why-is-powr-coin-rising-5/" data-wpel-link="internal">Binance</a> executive Tigran Gambaryan, who has been detained in Nigeria since February 2024, until May 16. The trial was supposed to start on May 2, but a temporary postponement was granted after Binance lawyers claimed they had not yet received important documents related to the case.</p> 
<p class="p1" style="text-align: justify">Gambaryan went to Nigeria in February to address legal concerns, accompanied by Binance regional manager Nadeem Anjarwalla. The two were later arrested on charges of money laundering and tax evasion. It is alleged that Anjarwalla escaped custody and fled Nigeria.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/will-bitcoin-and-ethereum-options-impact-market-volatility/" data-wpel-link="internal">Will Bitcoin and Ethereum Options Impact Market Volatility?</a></h5>

Will Bitcoin and Ethereum Options Impact Market Volatility?

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