The looming switch of the Ethereum blockchain to a new, greener system has sparked a frenzy of trading by hedge funds racing to place bets ahead of one of the biggest events in the short history of cryptocurrencies.
Traders have been scooping up options on ether tokens — the flagship crypto coin trading on Ethereum — betting on price volatility or protecting themselves against sudden sharp moves ahead of the “Merge”.
The Merge has been a long-awaited event in the crypto industry and will change how new transactions are verified on the Ethereum blockchain.
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