#Deribit trading volume surpasses $1.1 trillion#
Hot Topic Overview
Overview
Cryptocurrency derivatives exchange Deribit saw record trading volumes in 2024, exceeding $1.1 trillion, up over 95% year-over-year. The growth was driven primarily by institutional investor optimism fueled by the US election and a bullish sentiment towards Bitcoin breaking the $100,000 mark. Deribit's trading volume was particularly strong in the fourth quarter, with options notional volume up 99% year-over-year to $743 billion, while spot trading volume jumped from $8.37 billion in the previous year to $7.6 billion. Deribit's highest trading day occurred shortly after the US election, on November 12, when its 24-hour rolling volume hit an all-time high of $14.8 billion.
Ace Hot Topic Analysis
Analysis
Cryptocurrency derivatives exchange Deribit saw a massive surge in trading volume in 2024, soaring from $608 billion in 2023 to over $1.1 trillion, a year-over-year increase of more than 95%. This growth was largely driven by optimism from institutional investors, fueled by the US presidential election and the bullish sentiment surrounding Bitcoin's break above $100,000. Deribit's trading volume was particularly strong in the fourth quarter, reaching a new all-time high of $14.8 billion in single-day trading volume on November 12th. Furthermore, the platform's open interest reached an all-time high of approximately $48 billion on November 28th. Beyond total trading volume growth, Deribit's notional options volume also climbed by 99%, with total options volume reaching $243 billion in Q4. Despite this, Deribit's 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.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Deribit's trading volume grew over 95% year-on-year in 2024, reaching over $1.1 trillion, driven by institutional investor optimism surrounding the US election and Bitcoin's bull run.
Deribit's options notional trading volume increased by 99% year-on-year to $743 billion, and spot trading volume also grew significantly.
Deribit's trading volume reached an all-time high in Q4, exceeding Q1 by 22%.
Deribit achieved significant strategic, financial and regulatory milestones in 2024.