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Sunday, August 1, 2021

Bitcoin’s options exchange volumes have been exceeded by those of ether’s on Deribit

The trading of the Deribit crypto derivatives has endured a surprising trend on Monday due to ether (ETH) and its options exceeding the options of bitcoin’s (BTC).

On Monday, Ether’s options for the entire exchange volume revolved around 1.32 billion, a 50% higher rate than that of bitcoin’s which was $879.5 million. Options play a crucial role in derivatives. It is a type of contract which is used to give the buyers the authority to purchase or sell a basic asset at a specified price but within a stated period of time.

According to Deribit, they didn’t say anything about the change of the trade, however, they mentioned that the reason for this might be ether (ETH) and its remarkable performance in price in contrast to Bitcoin (BTC).

Ether’s price has achieved more than 1,400%, a far higher percentage than bitcoin’s which has achieved roughly around 550%.

But, when comparing the exchange volumes on a monthly basis, ether’s options are four times lower than bitcoin’s options. Moreover, in April, the trading found about $8 billion in Ether’s options, whereas the bitcoin’s options were far higher, somewhere around $33 billion. According to The Block’s Data Dashboard, what makes Deribit the biggest bitcoin options trade is the fact that it has a market percentage over 85%.

The exchange has Ether’s worth estimated at around $3,325, whereas bitcoin’s worth is estimated at approximately $56,000 which is a new breaking record.

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