Strategy
Here’s how Ether options traders could prepare for the proof-of-stake migration
Ethereum’s long-awaited transition away from proof-of-work (PoW) mining has recently suffered another delay and is expected to occur in the second half of 2022. Ethereum developer Tim Beiko stated on April 13 that “it won’t be June, but likely in the few months after. No firm date yet, but we’re definitely in the final chapter of PoW on Ethereum.” An automated increase in mining difficulty designed to make PoW mining less attractive is set to become active around May. Known as the “difficulty bomb,” it will eventually make blocks “unbearably slow,” forcing the upgrade to a proof-of-stake (PoS) network. Such news might have negatively impacted Ether’s (ETH) price, but it creates an immense opportunity for those betting on the ...
How professional Ethereum traders place bullish ETH price bets while limiting losses
Being bullish on Ether (ETH) over the past four months did not pay off as its price dropped 44% from $4,600. The decentralized finance (DeFi) applications growth that fueled the rally faded away, partially due to network congestion and average transaction fees of $30 and higher. The cool-off period can also be attributed to excessive expectations as the fee burn mechanism implemented in August 2021 with the London hard fork. After drastically reducing the daily net issuance, investors jumped to the conclusion that Ether would become “ultrasound money.” The Ethereum network burned more ETH over the last 24 hours than was issued by both the PoW (eth1) and PoS (eth2) networks. This is the first time this has happened since EIP-1559 went live less than 3 months ago. ETH is ultra so...
Here’s a clever options strategy for cautiously optimistic Bitcoin traders
Bitcoin (BTC) entered an upward channel in early January and despite the sideways trading near $40,000, order book analysts cited “significant buying pressure” and noted that the overall negative sentiment might be heading towards exhaustion. Bitcoin/USD price at FTX. Source: TradingView Independent analyst Johal Miles noted that BTC’s price formed a bullish hammer candlestick on its daily chart on Jan. 24 and Feb. 24, hinting that the longer-term downtrend is close to an end. However, the rally above $41,000 on Feb. 28 was unable to create strong demand from Asia-based traders, as depicted by the lack of a China-based peer-to-peer Tether (USDT) premium versus the the official U.S. dollar currency. Currently, there is positive news coming from the...
This bullish Ethereum options trade targets $3.1K ETH price with zero liquidation risk
Ether price (ETH) spent the last two months stuck in a rut and even the most bullish trader will admit that the possibility of trading above $4,400 in the next couple of months is dim. Of course, cryptocurrency traders are notoriously optimistic and it is not unusual for them to expect another $4,870 all-time high, but this seems like an unrealistic outcome. Despite the current bearish trend, there are still reasons to be moderately bullish for the next couple of months and using a “long condor with call options” strategy might yield a positive outcome. Options strategies allows the investor to set upside limits Options markets provide more flexibility to develop custom strategies and there are two instruments available. The call option gives the buyer upside price protection, and th...
Moderna starts human trials of an mRNA-based flu shot
Moderna gave its mRNA-based seasonal flu vaccine to the first set of volunteers in a clinical trial, the pharmaceutical company announced today. The start of the trial marks the next stage of the company’s work on this type of vaccine technology after the overwhelming success of its COVID-19 vaccine, which was built using the same strategy. Before the COVID-19 pandemic, mRNA vaccines were still largely experimental, even as they were heralded as the future of vaccine development. People who get an mRNA vaccine are injected with tiny snippets of genetic material from the target virus. Their cells use that genetic information to build bits of the virus, which the body’s immune system learns to fight against. The high efficacy of the mRNA COVID-19 vaccines made by Moderna and Pfizer / BioNTec...
Lagos assembly warns local councils against extorting courier, logistics operators
Pool Photo The Lagos House of Assembly on Monday ordered local government councils and local council development areas (LCDAs) in the state to desist from extorting and harrassing operators of courier and logistics services in the state. Mudashiru Obasa, the House speaker, said the local councils do not have the power to tax logistics and courier services. He said the power of the councils was limited to the registration of bicycles as dictated by the Constitution. Mr Obasa said it was important to act against the action of the councils because it affects the ease of doing business in the state. “We have to make them understand that going out to disturb well-planned and organised businesses that stand to create employment for our youth especially with the rate at which students graduate wi...
Total targets more renewable electricity, LNG production by 2030
Total Companies in Nigeria has unveiled its corporate vision in line with the change of the Total Group to TotalEnergies. The organisation aims to produce more renewable electricity and Liquefied Natural Gas (LNG) by 2030. The oil major also outlined its broad energy lineup that includes oil, gas, electricity, hydrogen, biomass, wind and solar. TotalEnergies is committing $60 billion to investment in renewable energy in the next 10 years, with 10 per cent of that investment expected to come to Nigeria. Speaking at a virtual parley with journalists, the Executive General Manager, Total Country Services, Mrs. Bunmi Popoola-Mordi, highlighted steps that would help in adapting the new name, logo and visual identity of the company. THISDAY had reported that the shareholders of Total Group, had ...
Russians nationals detained in Chad desert say they are tourists
A group of Russians detained by the police in a part of northern Chad where the army has been battling a rebel invasion from Libya said on Wednesday that they were tourists who had come to sightsee in the Sahara Desert. The roughly 10 Russians were picked up last week by the police near the town of Faya Largeau because they were in a military operational zone, according to national police spokesperson Amane Issac Azina. Azina said they had not broken any laws and had not been arrested, but rather evacuated to the capital N’Djamena for their own safety. “We decided this time to visit the Republic of Chad because it is very interesting,” one of the Russians, Alexey Kamerzanov, told Reuters at an N’Djamena hotel. “Usually world travellers do not visit the Republic of Chad because it’s not the...
MTN to invest N640 billion to expand broadband access
MTN Nigeria plans to invest N640 billion (approximately US$1.5 billion) over the next three years to expand broadband access across the continent’s most populous country, in line with the federal government’s 2020-2025 National Broadband Plan and in support of MTN Group’s strategy, Ambition 2025: Leading digital solutions for Africa’s progress. ‘Nigeria is one of our most important markets. We have a proud history of partnering with Nigeria and Nigerians to drive faster and more inclusive growth through digital transformation,’ said MTN Group President and Chief Executive Officer Ralph Mupita after a three-day visit to Abuja and Lagos, in which he met a number of key stakeholders. These included President Muhammadu Buhari; Vice President Oluyemi Oluleke Osinbajo; Minister of Communications...
Ekiti 2022: Governor Fayemi’s performance‘ll make the job easier for APC – party chairman
A Chieftain of the All Progressives Congress (APC) in Ekiti State, Akinlayo Kolawole, has disclosed that the performances of the Governor Kayode Fayemi-led administration would make next year’s governorship election easier for the party to win in the state. Kolawole, a former House of Representatives aspirant for the Ekiti North Federal Constituency Two in the 2019 general elections, made the disclosure in a chat with newsmen in Ado-Ekiti, urging the party leadership not to take anything for granted ahead of the all important election. He enjoined every member of APC in Ekiti and beyond to show more interest in sharing the good news to the public. The APC stalwart reiterated commitment to his political aspiration, stressing that ” it is alive and kicking.” He said : ” You are all around an...
Algeria’s FLN remains biggest party after election
Algeria’s FLN, long the country’s biggest political party, won the most seats in Saturday’s parliamentary election, the head of the electoral authority said on Tuesday. Fewer than a third of registered voters took part in the election, which the long dominant establishment had seen as part of its strategy to move beyond two years of mass protests and political turmoil. The protests that erupted in 2019 demanded the ousting of the ruling elite, an end to corruption and the army’s withdrawal from politics. While authorities praised the demonstrations as a moment of national renewal, they also cracked down with arrests. “The dynamic of peaceful change that was launched (with the protests) is being strengthened,” electoral authority head Mohamed Chorfi said, referring to the election. The FLN’...
Imo commissioner confirms attack on his country home
The Commissioner for Information and Strategy in Imo, Mr Declan Emelumba, has confirmed the attack on his country home in Ubulu, Oru West Local Government Area. Emelumba narrated to newsmen in Owerri how the incident happened in the early hours of Sunday morning. According to him, the attackers on arrival at the area, shot sporadically into the air, causing panic before setting his two buildings in his family compound ablaze. The commissioner expressed joy that no life was lost during the attack. He said: “In the early hours of Sunday, between 1am and 2am, some people called me from the village that heavily armed gunmen stormed my compound, broke the gate and set the buildings ablaze. “My gateman, who was the only person around when they came, managed to escape unhurt. “The bandits had eas...
