#Deribit trading volume hits $1.1 trillion#
Hot Topic Overview
Overview
Cryptocurrency derivatives exchange Deribit saw significant growth in 2024, with trading volume surging from $608 billion to over $1.1 trillion, a more than 95% year-over-year increase. This growth was primarily fueled by institutional investor optimism surrounding the US election and the subsequent Bitcoin bull run that saw the cryptocurrency break the $100,000 mark. Deribit's highest trading volume day occurred shortly after the US election, on November 12th, with its 24-hour rolling volume hitting an all-time high of $14.8 billion. Additionally, Deribit's notional options volume grew by 99%, with total options volume reaching $243 billion in the fourth quarter. Nonetheless, its fastest-growing business was spot trading, which saw a jump in total spot volume from $837 million in the previous year to $7.6 billion in 2024.
Ace Hot Topic Analysis
Analysis
Deribit exchange surpassed $1.1 trillion in trading volume in 2024, representing a year-over-year increase of over 95% and setting a new all-time high. The exchange’s options notional volume grew by 99% year-over-year, reaching $743 billion, while spot trading volume jumped from $837 million in 2023 to $7.6 billion. Deribit CEO Luuk Strijers noted that trading volume increased throughout the year, especially in the fourth quarter, with institutional investors expressing greater optimism about the US election and the subsequent bull run in Bitcoin, which broke through $100,000. The company’s highest trading volume day occurred shortly after the US election on November 12, when Deribit’s 24-hour rolling trading volume reached an all-time high of $14.8 billion. Additionally, as Bitcoin prices surged, the platform’s open interest peaked at approximately $48 billion on November 28, setting a new record.
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Public Sentiment
Discussion Word Cloud
Classic Views
Deribit trading volume surged in 2024, exceeding $1.1 trillion, representing a year-over-year increase of over 95%,
Institutional investors expressed optimism about the US election and the Bitcoin bull market, driving Deribit's trading volume growth.
Deribit's options trading volume grew significantly, with a year-over-year increase of 99%.
Deribit's spot trading volume also increased significantly, with total trading volume jumping from $837 million in the previous year to $7.6 billion in 2024.