Last Monday, May 3, the administration of the Deribit cryptocurrency exchange drew attention to the very high trading volume for Ethereum options.
Moreover, ETH even surpassed Bitcoin in terms of the activity of traders in this market, reports The Block. This trend is a direct result of the rise in the cost of ether.
Recall that the largest altcoin met a new week at values above $ 3000. The strengthening of the ETH rate has continued over the past two days. On Tuesday, May 4, the price of air went up to $ 3520. In 24 hours, its capitalization increased to more than $ 400 billion.
Last Monday, on the Deribit platform, the volume of trading in bitcoin options amounted to $ 879.5 million. The amount of transactions with ethereum options exceeded $ 1.32 billion.
Note that options are derivative contracts that give the right to buy or sell the underlying asset at a predetermined price at a specific point in time.
Ether on the Deribit exchange surpassed Bitcoin in options trading volumes by about 50%. However, on a monthly basis, the largest digital currency is still confidently leading the derivatives market.
BTC options trading volume on this platform is four times higher than on ETH. For example, in April this figure for bitcoin was $ 33 billion, while the amount of transactions with ether options did not exceed $ 8 billion.
At the moment, the Deribit exchange occupies a leading position in the bitcoin options market. It handles up to 85% of transactions with this product.
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