ApeCoin Traders Make Bold Moves in PowerTrade's Altcoin Options Market
Tue, Oct 22, 2024 4:05 PM

ApeCoin Traders Make Bold Moves in PowerTrade's Altcoin Options Market

A Flip by Shubhangi Gupta
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APE ecosystem's governance and utility token APE has doubled in value to $1.50 since the weekend, leading the broader market higher. Open interest, or the number of active APE options contracts, surged by over 800% to 263,000 ($394.5K) in one day, PowerTrade told CoinDesk Monday, adding that call options or derivatives, offering an asymmetric upside potential, account for over 80% of the tally.

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