Bitcoin Options Volume on Deribit Already 25% of 2020 Total
$14.5 billion in bitcoin options have traded on Deribit in the first two weeks of 2021.
Jan 12, 2021 at 5:07 p.m. UTCUpdated Aug 19, 2021 at 6:35 a.m. UTC
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Deribit traders have already recorded 25% of last year's entire bitcoin options volume.
- After a record-setting $2 billion traded Monday, total volume for bitcoin options on Deribit in the past two weeks reached $14.5 billion Tuesday morning.
- In 2020, all bitcoin options trading on Deribit totaled just less than $57 billion.
- Concurrent with soaring volume, bitcoin's implied volatility is surging, according to data from Skew. The one-month gauge currently above 135%, its highest level since March 2020 just after bitcoin's crash below $4,000.
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- Ether options, although a significantly smaller market, are experiencing similar growth with a record $264 million traded on Jan. 4, per data from Skew, a more than 2,700% increase from three months ago.
- Deribit routinely accounts for over 85% of daily options volume, per Skew data, with OKEx typically the second-largest bitcoin options market representing around 5% of daily volume.
- Outside of derivatives markets, all cryptocurrency trading volumes across the board are soaring, with spot markets reaching record levels, even passing 2017's peak, per CoinDesk Research.
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