Summary
TLDR: Ether reached over $3,000, thanks in part to market makers hedging activities in the options market.
Key Points
1. Ether, the native token of Ethereum’s blockchain, broke above $3,000 early Thursday.
2. The breakout above the psychological barrier was partly aided by hedging activities of market makers or dealers from the ether options market.
3. Griffin Ardern, head of options trading and research at crypto financial platform BloFin, noted the impact of market makers on the price movement of Ether.