Crypto News- This week, daily trading volumes for crypto derivatives, including options and futures, have surged to unprecedented levels across various exchanges.
Daily Trading Volumes in Crypto Derivatives Soar to Unprecedented Levels
Deribit, a prominent crypto derivatives exchange, announced on February 29 that its 24-hour trading volume had reached a record high of $12.4 billion. Additionally, Deribit noted that open interest, representing the number of derivatives contracts yet to be closed or settled on the platform, had surpassed $29 billion, marking another all-time high. The exchange also reported that client assets had reached $4 billion, setting yet another record.
On March 1, Coinbase Institutional revealed that its US-regulated futures exchange experienced its second-best day ever, with $380 million in notional volume traded in Bitcoin and Ether contracts. This volume was spread across a record 850 unique end-users on February 29.
Furthermore, the professional options trader’s platform, Greeks Live, reported a historic 24-hour high in options trading volume, reaching $620 million.
Regarding the market dynamics, Greeks Live observed that US spot Bitcoin exchange-traded funds (ETFs) were driving the spot bull market, resulting in record volumes as Bitcoin’s price surged to as high as $64,000. Despite this, options volume positions saw only a modest increase, with solid inflows contributing to a healthy market structure.
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