Need evidence of the maturation of the cryptocurrency market? Look no further than Deribit, the crypto exchange that saw record trading volumes in 2024.
Total trading volume across Deribit’s product suite, which comprises crypto options, perpetual futures, volatility futures and spot market, increased by 95%, from $608 billion in 2023 to $1.185 trillion in 2024.
Options alone recorded a trading volume of $743 billion, a year-on-year growth of 99%, representing a gigantic share of total exchange activity. Deribit listed BTC options in 2016 and has since cemented its position as the world’s leading crypto options exchange.
“Deribit saw an increase in activity throughout the year, particularly in the fourth quarter, as institutional investors demonstrated increased optimism around the US presidential election as well as Bitcoin’s bull run to 100,000. dollars that followed,” Deribit chief commercial officer Luuk Strijers said in a note. shared with CoinDesk.
“The increase in total platform volume and across all products we offer indicates that Deribit continues to be the go-to derivatives exchange, particularly as more professional traders enter the space,” Strijers added.
This impressive surge in trading activity on Deribit reflects a maturation of the market, primarily as spot ETFs and options linked to those ETFs went live in the US, accelerating institutional participation. It’s a sign of a growing shift toward more sophisticated trading strategies involving options, futures and volatility betting.
