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Ethereum (ETH) Contracts Traders Optimistic About Ether Progress: Skew Analysts

Skew analytical team updated the chart for one indicator that perfectly demonstrates the overall sentiment of Ethereum (ETH) traders

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Skew analytical group, tasked with researching processes on the cryptocurrencies derivatives market, has updated its "price probability" statistics. It is an integral indicator based on the ratio of contracts that expect the price of an asset to reach X level by Y time.

Moderate optimism of Ethereum (ETH) traders

As unveiled by Skew analysts, 5 percent of all Ethereum (ETH) contracts set to expire by the end of December 2020 indicate the extremely bullish hopium of traders. Traders who initiated these contracts are expecting the Ether price to creep closer to astonishing four-digit levels.

Moreover, 5 percent of traders are sure that Ethereum (ETH) may close Q3, 2020, over $800. That would mean a more than 100 percent upsurge from its current price.

It should be noted that the Ethereum (ETH) price reached its all-time high on January 13, 2018. In the sunset of ICO euphoria and a splendid cryptocurrencies market capitalization bull run, it was worth as high as $1,449 on spot trading platforms.

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February 2, 2018, was the last day of four-digit Ethereum (ETH) so far. At press time, Ether has slightly retraced from its local high over $400up almost 300% up from its Black Thursday crash of March 2020.

Number of mid-term catalysts make Ethereans bullish

In terms of both technological progress and the market situation, Ethereum (ETH) looks really strong in the mid-term. First of all, the development of Ethereum (ETH) 2.0 is gaining steam with the fourth multi-client testnet, Medalla, up and running.

👉 MUST READ Ethereum (ETH) 1.0 Already Merging with Ethereum (ETH) 2.0related article image

Also, Ethereum (ETH) blockchain is a nucleus of the majority of decentralized financial instruments (DeFis). Its splendid run may bring new money to Ethereum (ETH) from both crypto newbies and sophisticated "yield farmers."

Alongside that, prominent investor Ari Paul, co-founder and CIO of BlockTower Capital, has warned traders that the possible impact of DeFi euphoria on Bitcoin (BTC) and Ethereum (ETH) performance may be heavily overestimated.

As covered by CryptoComes, Mr. Paul claimed that new money may be reallocated in mid-cap altcoins prior to entering Bitcoin (BTC) and Ethereum (ETH) capitalization.

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Vladislav Sopov

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)