The institutionalization of cryptocurrencies is rapidly accelerating.
The Liquidity tool at Crypto Derivations Exchange Deribit, the price lock lock application (RFQ) of Delibit, has registered a cumulative negotiation volume of more than $ 23 billion in less than four months since its debut at the beginning of March.
Delibit is a prominent exchange of derivatives, which offers the world’s largest options for Bitcoin merchants
Ether, Solana and XRP. It also offers futures and spot trade.
The exchange introduced the RFQ Block system in March, where participants (makers), typically high -volume institutions and merchants, request prices for a structure: a single instrument trade or a multiple holes strategy that involves points, future or options. A block trade is a great transaction.
Market manufacturers, the entities responsible for providing liquidity, then respond with individual or double -sided quotations, after which the best event for the offer and the application is shown to the policyholder. The best appointment for the offer and the best appointment for the application is shown to the policyholder, which can trade crossing the offer or application.
The system allows large operators to execute orders more efficiently outside public order book systems, which guarantees a minimum impact on market prices.
Imagine buying vegetables in large quantities directly from a farm (OTC) and receive a better price and more flexible terms instead of offering in a market full of people where a large order can significantly increase prices.
“The RFQ system allows multiple operations, multiple manufacturers contributions and greater prices efficiency, improving the execution for large OTC operations while minimizing the adverse selection. It reflects a strong institutional demand and the continuous approach of decades in the liquidity and the quality of trade,” said the Deribit CEO, Luuk Strijers to Coindesk.
Strijers said the system is aimed at the needs of professional and agency commercial operations, such as support for complex structures and large volumes.
“RFQ Block allows multiple liquidity suppliers to compete in partial quotations and manufacturers benefit from a reduced adverse selection, allowing stricter contributions, while makers enjoy price improvements and anonymity options,” Strijers said.
The RFQ system managed operations worth $ 883 million in March, with booming activity at $ 6.3 billion in April. The impulse continued in May, with the account reaching $ 9.8 billion and exceeding $ 6 billion in the first half of June.
If that is not enough, the percentage of block operations executed through RFQ of Deribit has increased to 27.5% this month, compared to 17% in April and 21% in May.
