#Deribit trading volume exceeds $1.1 trillion.#
Hot Topic Overview
Overview
Cryptocurrency derivatives exchange Deribit saw significant growth in 2024, with trading volume soaring from $608 billion to over $1.1 trillion, an increase of over 95% year-on-year. This growth was largely driven by institutional investors' optimism surrounding the US election and the bullish performance of Bitcoin breaking through $100,000. Deribit's highest trading volume day occurred shortly after the US election, on November 12th, when its 24-hour rolling volume hit a record high of $14.8 billion. Additionally, Deribit's options notional volume surged 99% year-on-year to $743 billion, while spot trading volume jumped from $837 million in the previous year to $7.6 billion. Deribit's strong performance indicates a growing appetite for the cryptocurrency market among institutional investors, and the increasingly prominent role of derivatives trading in the cryptocurrency space.
Ace Hot Topic Analysis
Analysis
Deribit exchange surpassed $1.1 trillion in trading volume in 2024, marking a new all-time high with a year-on-year increase exceeding 95%. Trading volume was particularly strong in the fourth quarter, reflecting institutional investors’ high optimism about the US presidential election and a bullish outlook for Bitcoin surpassing $100,000. Luuk Strijers, CEO of Deribit, said that the company saw increases in trading volume throughout the year, with the highest trading day occurring shortly after the US election, on November 12, when Deribit recorded an all-time high of $14.8 billion in 24-hour rolling trading volume. In addition, as the price of Bitcoin rose, the platform’s open interest in contracts reached an all-time high of approximately $48 billion on November 28. Beyond the growth in total trading volume, Deribit's notional options trading volume also increased by 99%, reaching $243 billion in total options trading volume in the fourth quarter. Nonetheless, its fastest-growing business was spot trading, which saw its total spot trading volume jump 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 increased by over 95% year-on-year in 2024, reaching over $1.1 trillion, driven primarily by optimistic sentiment among institutional investors towards the US election and the Bitcoin bull market.
Deribit's trading volume hit an all-time high in the fourth quarter, up 22% from the first quarter.
Deribit's options notional trading volume increased 99% year-on-year to $743 billion.
Deribit's spot trading volume saw the fastest growth in 2024, jumping from $837 million to $7.6 billion.