• Wed. Jun 7th, 2023

Bitcoin Options Soared and Climbed to $9.6 Billion

Jan 20, 2021

Investors’ interest reaching at US$ 9.6 Billion for Bitcoin options as confirmed through the data compiled from the derivatives market. The interest in Bitcoin futures is similarly also nearing a record high which was then followed by Ethereum as well.

 While for quite some time, spot markets for crypto have gone fused, yet the derivatives market, in particular Bitcoin, has been on continuous horizon.

It was witnessed today that interests for Bitcoin options as well as futures have increase manifold. It was noted by skew.com’s researchers that future interest of Bitcoin has increased vigorously reaching its all-time high. It was also pointed out by Skew.com that for the time being CME Group has emerged as the biggest open interest.

Similar results have also been shared by various crypto exchanges who told that their trade volumes for Bitcoin futures has been growing exponentially.

The top crypto exchange in terms of open interest for Bitcoin futures for today was none other than OKEx. The other prominent crypto exchanges after OKEx were seen as Binance and CME. The three of them were reportedly followed by FTX, Bitfinex, Coinflex, Huobi, Bitmex, By bit and Deribit.

A similar increase of interest in futures and options backed by Ethereum too saw phenomenal growth. While the demand for Ethereum’s options and futures was on a higher level yet its spot markets too reached the best scores of all-time-high. Skew’s data further revealed that Ethereum’s option interest reached at US$ 1.7 Billion wherein Deribit was leading from the front. It was informed that the open interest of Deribit for Ethereum options was at US$ 1.5 Billion. After Deribit, there OKEx with US$ 153 Million for Ethereum options.

It was analyzed by crypto analysts that with the start of 2021, Bitcoin options’ demand has augmented significantly. The hypothetical value for the entire Bitcoin options is estimated to be US$ 9.6 Billion expiring on 29th January.

It was further revealed that Deribit managed to acquire most of Bitcoin options with an average of 84.37 i.e. US$ 8 Billion approximately. At number two and third were OKEx and Bit.com which acquired interest upto US$ 5.1 Million and US$ 470 Million respectively.

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