Bitcoin Surge Drives Deribit to $40.8 Billion Open Interest Peak

CN
9 hours ago

Deribit, a prominent platform for cryptocurrency derivatives trading, has reached an all-time high in open interest across its bitcoin (BTC) and ether (ETH) contracts, totaling $37.6 billion. This milestone underlines Deribit’s significant presence in the digital assets market, contributing to a cumulative platform open interest of $40.8 billion as of Thursday, Nov. 14, 2024.

The record achievement includes elevated activity in bitcoin futures, perpetuals, and options contracts. Today’s market activity showcases bitcoin’s continuing influence and volatility, with the digital asset down 2% at present but marking a 25% gain over the past two weeks. On Thursday, spot trading volume for BTC reached approximately $125 billion, while the cryptocurrency’s market cap stands at $1.76 trillion, supported by a current price of $89,091 per BTC.

Deribit’s platform has recorded substantial figures in bitcoin futures and perpetuals, with futures contracts reaching $1.42 billion and perpetuals at $1.07 billion in USD value. For ether, futures trading volume hit $329.5 million, while perpetual contracts reached $304.4 million. Additionally, USDC perpetuals contributed $73.5 million to the platform’s overall volume, underscoring diversified interest across major cryptocurrency contracts.

The options market further indicates sustained trading activity, with a notable inclination towards long positions. Options open interest shows that 63.36% of positions are long, while 36.64% are short. In bitcoin options, call contracts hold 243,920 BTC in volume, while put contracts account for 141,055 BTC. Over the last 24 hours, calls represented 58.66% of trading volume, with a volume of 34,554.8 BTC, compared to puts at 41.34%, or 24,353.3 BTC.

This high open interest demonstrates the strong demand for derivatives amid bitcoin’s fluctuating price movements, reflecting a period of high engagement and strategic positioning in the market.

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