Deribit Reports Increase in Crypto Derivatives Trading Volume
While global crypto derivatives trading activity declined by 12.1% to approximately $1.6 trillion, Deribit, the Panama-based exchange, experienced a surge in trading volume.
In August, Deribit’s derivatives market volume reached $42 billion, marking a 17% increase compared to July. This growth defied the global trend and showcased the resilience of Deribit’s options segment, which recorded its highest volumes since March. The strength of Bitcoin (BTC) and the upcoming ETF decision further invigorated the market, leading to increased demand for call and put options.
Deribit controls almost 90% of the global crypto options activity, and the exchange’s bitcoin implied volatility index (BTC DVOL) and ETH-focused gauge both surged to 53% and 50%, respectively. These significant jumps indicate renewed interest in options trading.
During the same period, trading volume in ether (ETH) rose to its highest level since March, with over 5.6 million ETH option contracts, worth $9 billion, changing hands.
Hot Take: Deribit’s Resilience Shines Despite Global Decline
Despite the decline in global crypto derivatives trading, Deribit managed to buck the trend and achieve impressive growth. The exchange’s strong performance in the options segment, coupled with the increased demand for Bitcoin and Ethereum options, contributed to its success. Deribit’s ability to adapt to market conditions and provide a robust trading platform makes it a standout player in the crypto derivatives space.
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