The value of open positions on Deribit, which controls a large part of the crypto options market, rose to a record level.
The figure in question dropped to 6 billion dollars in September. Last week, it exceeded 15 billion dollars. This level was recorded as a new peak. The previous record level was recorded on October 20, 2021, with 14 billion 360 million dollars. At that time, the price of Bitcoin was over 64 thousand dollars.
What does the new record mean?
Deribit manager Luuk Strijers said: “This increase shows that options are increasingly preferred for hedging risk and maximizing returns. The value of open positions exceeded BTC futures for the first time. “This change reveals that the market is maturing and becoming more sophisticated.” he commented.
Finally, Strijers added that Deribit’s market share in Bitcoin options is 85 percent.
It was published: 20 November 2023 20:01
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