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The Crypto Basic
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Bitcoin and Ethereum options worth a staggering $5.82 billion will expire tomorrow, according to Deribit data.
#BitcoinEndurance
#EthereumAnalysis
#Crypto
#CryptonewswithJack
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Montenegro’s Minister of Justice has approved the United States request to extradite Do Kwon, the infamous #Terra (LUNA) founder. Minister Bojan Bozokiv signed the verdict on December 27, ending the lingering decision. Notably, the US and South Korea keenly contested the extradition of the embattled Terra boss, seeking to prosecute him for his alleged involvement in the notorious 2022 Terra implosion. For context, the Terra ecosystem tumbled in 2022, wiping out billions of dollars from the cryptocurrency market. Its native token, LUNA, crashed from over $100 to almost nothing after the algorithmic stablecoin TerraUSD depegged from the dollar valuation. Following the over $40 billion crypto wipeout, Do Kwon took to his heels, escaping to Serbia before moving into Montenegro. In March 2023, the Montenegro police force arrested him and his partner, Han Cheng Jun, in the Podgorica airport while they attempted to flee the country to Dubai. Justice Minister Issues Verdict Notably, the United States and South Korea had previously filed a request to extradite Do Kwon. Both countries’ prosecutors sought to indict the Terra boss for his involvement in the 2022 crash. Bozokiv built on an earlier ruling by the Montenegro Supreme Court, stating that both the US and South Korea met the requirements to extradite Do Kwon from the Southeastern European country. Meanwhile, the Minister of Justice favored the United States. He considered criteria like the gravity of the crime, order of submission, citizenship, and the possibility of further extradition and concluded that Do Kwon would head to the US. Notably, the statement did not mention the extradition details, such as the date and means of movement. Moreover, Do Kwon remains in the facility for foreigners in Montenegro after being released from prison last year. #CryptoNewsCommunity
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The team behind the #shiba⚡ Inu ecosystem publishes the closing edition of The Shib magazine for 2024, reflecting on the transformative journey the cryptocurrency experienced this year. According to the team, 2024 was a year of monumental growth, during which Shiba Inu transitioned from its meme origin into a global crypto powerhouse. This significant feat was driven by strategic partnerships, innovation, community-driven initiatives, and a rapidly expanding ecosystem. #CryptoNewss
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"XRP’s Wave 4 Ends: Wave 5 Set to Propel XRP Toward a $5 Rally"
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The crypto market is closing out the year with significant #Bitcoin and Ethereum options expirations and a bullish outlook heading into 2025. Today, a record $18 billion in options expired, marking the last major expiry of the year, with Bitcoin (BTC) and Ethereum (ETH) seeing large volumes of contracts reach their conclusion. Bitcoin and Ethereum Options Data Highlights Specifically, a total of 150,000 Bitcoin options expired with a staggering notional value of $14.17 billion. Notably, these contracts expired with a Put-Call Ratio of 0.69. This figure suggests that more call options were traded relative to put options, signaling that investors are leaning toward a bullish market outlook. Meanwhile, Ethereum options saw 1.12 million expired today, with a notional value of $3.74 billion. Despite these large expirations, the market has been relatively quiet, with no major volatility due to the overlap with the Christmas holiday. However, experts believe this lull is temporary, with significant optimism for the future. Notably, Bitcoin is trading at $96,329, with a 0.7% uptick over the past day. Ethereum is also trading at $3,387, with a gain of less than 1% today. Beyond this passive market today, Bitcoin has already seen strong gains in 2024. Its price more than doubled this year, rising from $42,000 to over $108K, boasting a one-year gain of 120%. Bitcoin’s late-year rally since November set a bullish tone for the broader crypto market, benefiting others like Ethereum. This month, Ethereum set a fresh year-high above $4,100. These strong performances in the market’s leaders have lifted sentiment, with investors and analysts increasingly optimistic about the trajectory for 2025. #CryptoNewsCommunity
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An anonymous crypto whale who participated in #Ethereum ’s Initial Coin Offering (ICO) has come out of a decade of dormancy to move some of their ETH holdings. The popular smart money on-chain platform Lookonchain reported the development today via on X. Transaction Details Lookonchain stated that the Ethereum ICO participant made their first transaction today after 9.4 years of inactivity. The latest transaction saw the whale move 0.01 ETH to an unknown address, “0x296…Ee557,” today at 04:40 a.m. (UTC). With ETH currently trading at $3,394 per coin, this transaction is worth $33.94 at press time. This marks the wallet’s first transaction since it first received 1,940 ETH coins during the Ethereum ICO in 2015. According to Lookonchain, the entire portfolio of 1,940 ETH was valued at $601 at the time. Interestingly, after a decade of holding, the value has skyrocketed to a jaw-dropping $6.56 million today. #CryptoNewsFlash
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