© Reuters. Risk averse Ethereum traders use this options strategy to increase their exposure to Ethereum
On October 1st, the cryptocurrency market saw a 9.5% rally that took Ether () and Ether (ETH) to 12-day highs. Various reasons are attributed to the price movement, such as the consumer price index in the United States, the decline in foreign exchange reserves and the formation of a continuous “cup with handle” histogram.
Traders are likely to find no explanation for the sudden move, other than a restoration of investor confidence following the Sept.19 slide that was attributed to the fallout from a default by Chinese real estate developer Evergrande.
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The Ethereum network has faced some criticism due to transaction costs of $ 20 or more due to non-fungible token sales (NFT) and activity in decentralized finance protocols (DeFi). Cross-chain bridging linking Ethereum to other Proof of Stake (PoS) networks has partially solved this problem, and the launch of the Oracle Network Umbrella service on Friday shows how fast interoperability is progressing.
Read the full article on Cointelegraph
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