This is a general announcement. Products and services referred to here may not be available in your region.
Fellow Binancians,
Binance Square is pleased to introduce a new “Share to Win” activity, where verified users may participate to unlock over 100 USDT in rewards.
Activity Period: 2024-05-23 09:00 (UTC) to 2024-06-06 09:00 (UTC)
Activity 1: Share Binance Square Links With Your Referrals to Get up to 100 USDT in Crypto Red Packet
To participate in this Activity, verified Binance users (referrers) can log in to their Binance accounts and share any Binance Square link(s) with new and existing Binance users (referrals) during the Activity Period. After the referrals open the shared Binance Square link(s), both the referrers and the referrals can unlock Crypto Red Packet(s) worth up to 2 USDT each. Rewards are limited and will be distributed on a first-come, first-served basis.
In addition, referrers and the new Binance users they refer may unlock Crypto Red Packet(s) containing greater rewards when the referrals sign up for a Binance account after opening the Binance Square link(s) and complete identity verification.
Please note that each referrer may claim a maximum of one Crypto Red Packet reward per referral via the Binance App during the Activity Period, and up to 50 Crypto Red Packets (i.e., a maximum of 100 USDT in Crypto Red Packet) from this Activity.
Activity 2: New Users Exclusive - Sign up With Binance & Complete Tasks to Earn up to 5.5 USDT in Rewards
In addition, new users who sign up with Binance via the Activity page may click on the [Go] button and complete any of the following task(s) during the Activity Period to get up to 5.5 USDT in rewards. Rewards are limited and will be distributed on a first-come, first-served basis.
TaskTask DetailsReward per Completed Task1Open any ten unique Binance Square links while being logged in to your Binance account.Up to 0.5 USDT2Complete a trade of at least $100 equivalent on Spot, Futures, Margin, Options, or Convert.5 USDT
About Binance Square
Binance Square, formerly known as Binance Feed, aims to be the one-stop social platform for the latest trends in Web3. With a vast selection of content from renowned crypto experts, avid enthusiasts, and trusted media sources, the platform serves as a bridge between content creators and their followers, customizing users’ feeds based on their respective engagement history.
For More Information
What Is Binance Square and Frequently Asked QuestionsBinance Square Creator Academy
Terms & Conditions
This Activity may not be available in your region. The rewards for both Activities are distributed on a first come, first-served basis, with limited redemptions available.Users may qualify for rewards from both Activities where applicable. The rewards for both Activities are not mutually exclusive.There will be caps imposed on the amount of rewards available to eligible users per country/region.Users must be logged in to their verified Binance accounts while completing tasks during the Activity Period in order to qualify for any rewards from Activity 1 and/or Activity 2.Activity 1:Users may only receive a maximum of one Crypto Red Packet reward from each unique referral. Please note that users may redeem multiple Crypto Red Packet rewards from different unique referrals within the same day.Crypto Red Packets will be distributed to eligible users immediately upon meeting the necessary requirement(s). Users should redeem the Crypto Red Packets to their Funding Wallets via the Binance App before the Activity ends. Please note that all unclaimed Crypto Red Packets will be forfeited after the Activity ends.Activity 2:Only new users who register with Binance via this activity page will be eligible to participate in Activity 2. Rewards for Task 1 will be distributed in the form of Crypto Red Packets to eligible users immediately upon meeting the necessary requirement(s). Users should redeem the Crypto Red Packets to their Funding Wallets via the Binance App before the Activity ends. Please note that all unclaimed Crypto Red Packets will be forfeited after the Activity ends.Rewards for Task 2 will be distributed in the form of token vouchers to eligible users within 14 working days after the Activity ends. Users will be able to log in and redeem their voucher rewards via Profile > Rewards Hub. Token vouchers will expire by 2024-07-30 09:00 (UTC). Learn how to redeem a voucher.Illegally bulk-registered accounts or sub-accounts shall not be eligible to participate or receive any rewards. Binance reserves the right to cancel a user’s eligibility in this activity if the account is involved in any behavior that breaches the Binance Square Community Management Guidelines or Binance Square Community Platform Terms and Conditions.Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating or suspending this activity, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all participants shall be bound by these amendments.Binance reserves the right of final interpretation of this activity.There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.
Thank you for your support!
Binance Team
2024-05-23

Crypto markets have largely held on to gains this week, buoyed by Ethereum and the US Securities and Exchange Commission’s approval of spot exchange-traded funds.

However, around $1.4 billion in notional value Bitcoin options contacts will expire on May 24.

The 21,000 contract expiry is a relatively small event compared to the month-end May 31 expiry which will see a whopping $4.3 billion worth of options expire, according to Deribit.

Bitcoin Options Expiry

The put/call ratio for this week’s Bitcoin options contracts is 0.88, which means that long and short-contract sellers are relatively evenly matched with slightly more calls expiring. The max pain point, or the price at which most option contract buyers lose their premium, is $67,000.

The longs are also dominating in open interest (OI) with around $830 million at the $70,000 strike price. Higher strike prices also have a lot of OI, with around $843 million at $100,000, according to Deribit.

The $60,000 strike price has the highest amount of OI for put contracts with $388 million. Open interest refers to the number or value of contracts that have yet to be settled, so the bulls expect much higher BTC prices.

Chart Bitcoin OI by expiry. Source: Deribit

In addition to today’s Bitcoin options there are around 354,000 Ethereum contracts expiring today. These have a notional value of $1.5 billion and a put/call ratio of 0.57 with more calls expiring than puts.

Derivatives traders have been speculating on ETH in the run-up to the long-awaited SEC deadline. There is around $515 million in OI at the $4,000 strike price as bulls expect more momentum.

“BTC pulled back as expected, compared to the very strong support for ETH’s price, with ETH’s current weekly weighted IV still exceeding 100%, while BTC’s current weekly IV is only 50%,” commented crypto derivatives software provider Greeks Live.

Crypto Market Impact

Almost $3 billion in BTC and ETH options will expire today, but the impact on spot markets is usually muted. Total capitalization has dropped 1.3% to $2.68 trillion, primarily due to a 2.3% dip in Bitcoin prices as the asset fell to $67,400 at the time of writing.

Ethereum faced tons of volatility ahead of yesterday’s decision but now stands calmly at $3,730.

The altcoins were a mixed bag with gains for Chainlink (LINK), PEPE, and Ethereum Classic (ETC), but losses for Solana (SOL), Dogecoin (DOGE), and Toncoin (TON).

The post Will Crypto Markets March Higher When $1.4B Bitcoin Options Expire? appeared first on CryptoPotato.