About Deribit’s Altcoin Expansion
“Based on demand from our clients, we chose to expand our offerings with some key altcoins; SOL, MATIC, and XRP,” Deribit Chief Commercial Officer Luuk Strijers said in an email to you.
Strijers added that introducing USDC-based altcoin options is a natural progression for the derivatives trading platform. “There is now over 85% of open interest for bitcoin and ethereum options on Deribit,” he noted.
Deribit Exchange Activity Increases
In January, Deribit experienced a substantial surge in activity, achieving its highest turnover since May 2021 — totaling $83.3 billion.
Additionally, in January, the exchange reported the highest-ever number of corporate accounts engaging in trading within a single month.
Deribit also observed the highest number of unique retail participants actively trading since December 2021 — indicating a notable increase in retail involvement in the platform’s offerings.
Hot Take: Deribit Expands Altcoin Options to Meet Client Demand
Deribit, a leading derivatives trading platform, has responded to client demand by expanding its offerings to include altcoins such as SOL, MATIC, and XRP. The introduction of USDC-based altcoin options aligns with the platform’s strategy to cater to a diverse range of cryptocurrencies. With over 85% of open interest focused on bitcoin and ethereum options, this expansion allows Deribit to tap into the growing popularity of altcoins among traders. The surge in activity experienced by Deribit in January, along with increased corporate and retail participation, further demonstrates the platform’s strong position in the market.
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