Bitcoin Options: Deribit Exchange Sees Record Open Interest of $1B
Open interest in bitcoin options listed on the Panama-based exchange jumped to a record $1 billion Tuesday, according to data from Skew.
The put-call volume ratio of bitcoin options suggests Monday's price decline could be short-lived. However, the cryptocurrency remains vulnerable to a further sell-off in stocks.
Malta-based cryptocurrency exchange OKEx rolled out option contracts on Ethereum’s ether (ETH) token on Thursday, ending the Panama-based Deribit’s virtual monopoly in the space.
Most markets are quiet while activity seems to be increasing on Ethereum’s DeFi network - which could help explain ether’s outperformance of bitcoin in 2020.
A flurry of activity around the bitcoin halving led to crypto derivatives volumes in May gaining key market share against spot volumes.
Derivative contracts on ether are more popular than ever, as evidenced by record open positions in options listed on the Panama-based derivatives exchange Deribit.