#2 Coin of the Week: Ethereum (ETH)

Updated: 28 August, 2023 seen 12

Soon it will be one year since I have been working on TerraMatris.EU crypto hedge fund. The fund has had its ups and downs - but the main idea has stayed the same - we are selling put options against Ethereum and reinvesting premium back into crypto itself

Last week I came up with an idea and plan to reinvest premiums into altcoins.

Without further ado - for the second week - we go with the Ethereum(ETH) coin. Every time we are going to take options premiums this week (August 28  September 3), we will re-invest the premium back in ETH coin for our long-term crypto portfolio.

Ethereum is a decentralized blockchain with smart contract functionality. Ether is the native cryptocurrency of the platform. Among cryptocurrencies, ether is second only to bitcoin in market capitalization. It is open-source software. Ethereum was conceived in 2013 by programmer Vitalik Buterin.

Ethereum price as on August 28, 2023
Ethereum price as on August 28, 2023

As of August 28, 2023, we are holding  0.01187074 ETH coins worth $19.48. We need at least 0.1 ETH to start selling covered calls on Ethereum, which would already give some boost to the portfolio.