Derivatives Take Center Stage: Binance Futures Weekly Trading Volume Hits Record High, Deribit Launches Ethereum Options

The cryptocurrency market has been developing for over 10 years. After experiencing the bull market in 2017, the trading market has gradually matured. As the spot market becomes saturated, exchanges are focusing on the development of crypto derivatives. Major mainstream exchanges are competing to seize the huge potential in this area.

• Deribit continues to dominate the Bitcoin options market
• Binance Futures hits record high weekly trading volume

Deribit launches Ethereum daily options product

Deribit, the first derivatives exchange to offer Bitcoin options contracts, currently holds a leading position in the market with a daily Bitcoin trading volume of around $100 million to $150 million, significantly higher than last month's $50 million.

Furthermore, the Panama-based cryptocurrency derivatives exchange recently announced the launch of daily options products for Ethereum. According to skew's data, Deribit still dominates the Ethereum options market, with Bitcoin options trading volume accounting for as much as 90% of the market.

Andras Caron, Head of Marketing at Deribit, stated:

The trading cycle for daily options is only one or two days, and the fees are relatively low. These short-term, low-cost options are important tools for traders in short-term strategies, allowing them to profit from hedging or anticipating short-term volatility.

Binance Futures weekly trading volume exceeds 16 billion RMB

According to the official Binance Blog, since the launch of futures trading last year, weekly trading volume has surged from less than 50 million to a record-breaking $16 billion, with both trading volume and market share experiencing exponential growth.

In addition to mainstream coin contracts, the market for futures contracts of competitive coins continues to expand. With Binance opening up various competitive coin futures contracts, within less than two months this year, the gap between competitive coin futures and Bitcoin futures market has gradually narrowed, with open interest contracts and trading volume showing signs of surpassing BTC/USDT.

Previously reported by ABM, Bitcoin options giant Deribit implemented KYC policies on February 10, requiring users who withdraw more than 1 BTC within 24 hours to undergo KYC verification.

Under this premise, some believe that Deribit's trading volume will suffer a blow and may even decline. Co-founder of Deribit, Marius Jansen, responded: "I believe that the majority of traders in Deribit's futures and options are more professional and they will have no concerns regarding KYC."

As of now, Deribit still maintains its dominant position in options trading volume, showing no signs of being affected by its new KYC policy, and the exchange remains confident in its leading position.

Related Reading

• Losing interest in cryptocurrencies? eToro executive: Retail investors are not interested in derivatives
• Bitcoin options giant Deribit holds over 80% market share, will the implementation of KYC policy be a concern?

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