Deribit, a well-known cryptocurrency derivatives exchange, said that the platform's open interest in options hit a new high on Thursday, with the overall size reaching $40.8 billion, of which Bitcoin and Ethereum accounted for the bulk, with the total open position reaching 37.6 billion. Dollar.
Luuk Strijers, CEO of Deribit, said: "Open interest has reached a new high, which not only reflects the rise in prices, but also shows that the popularity of cryptocurrency options continues to grow in the market. Institutional and retail investors are increasingly interested in options. Value its high liquidity, powerful hedging function and ability to accurately control risks.”
Luuk Strijers predicts that as more institutions enter the market, open interest will grow further, which will bring more stability and maturity to the cryptocurrency derivatives market.
In addition to options, Deribit has also hit new highs in the trading volume of futures and perpetual contracts. The single-day trading volume of Bitcoin futures reached US$1.42 billion, while the trading volume of Bitcoin perpetual contracts reached US$1.07 billion. ; The trading volume of Ethereum futures and perpetual contracts is also quite active, reaching US$329.5 million and US$304.4 million respectively.
Bitcoin options trading volume surges
Bitcoin options trading volume on the Deribit platform climbed sharply earlier this week as the price of Bitcoin approached $90,000, according to data from Kaiko Research.
Taking November 11 as an example, the single-day trading volume of Deribit's Bitcoin options exceeded US$8.2 billion, of which US$5 billion were call options (call options), showing the market's optimism about the market outlook.
Analysts at Kaiko pointed out that market demand for call options on Deribit with an expiration date of December 27 and strike prices between $90,000 and $120,000 has increased significantly since November 6 (the day after the US election).
"Options trading activity on Deribit shows that the market expects this Bitcoin rally to continue through the end of the year," said Kaiko research analysts.
In addition, Kaiko also observed that the funding rate of Bitcoin perpetual futures has turned positive, reflecting that the market’s bullish demand is growing, but it is still lower than the level in March this year, indicating that this wave of gains is not due to " Driven by "excessive leverage", market sentiment is relatively rational.
"The demand for Deribit Bitcoin "call options" is overwhelming, and the market has strong bullish sentiment." This article was first published on (Block Guest).
