Bitcoin Options’ Daily Trading Volume Jumps Above $1B For The First Time In History

Over the past two days, Bitcoin has recorded various significant achievements thanks to its bullish price rally that helped the coin to hit an all-time high value of $23,000 on the 17th of December noted on several top digital currency exchanges. After recording an all-time high both in price value as well as in market capitalization, Bitcoin has recorded another achievement as its options’ daily trading volume has reached a new all-time high.

Bitcoin (BTC) Options First $1 Billion Day

According to the data shared by the cryptocurrency analytics site Skew on Twitter, the daily trading volume of Bitcoin options has surged high exponentially amid the ongoing bullish run of the world’s largest cryptocurrency by market cap. On the 16th of December, Bitcoin options’ daily trading volume crossed the figure of $1 billion. It is the first time in the history of Bitcoin that BTC options’ daily trading volume has spiked above this figure.

Among derivatives exchanges, the famous cryptocurrency derivatives exchange Deribit led the Bitcoin options market and was on the top by recording the largest trading volume in Bitcoin options on that specific day. It saw its BTC options’ daily trading volume hitting $879 million.

Chief Executive Officer (CEO) of Deribit John Jansen called it a special day for the cryptocurrency exchange as it recorded new highs in different metrics including total options turnover, total open interest, and total turnover in addition to options trading volume. Adding more to it, he said:

“We get a lot of demand for higher strikes and have just introduced a USD 100k strike for September 2021. BTC options market share remains very strong (80-90% volume and OI) as we have the best tightest spreads, deepest books, and most available series.”

The cryptocurrency derivatives exchange Bit.com was on the second spot as its platform witness a daily trading volume of $84 million. While on the other hand, the Malta-based cryptocurrency exchange OKEx was held at the third position by recording $62 million in Bitcoin options’ daily trading volume.

Bitcoin Making New Records

Bitcoin is continuously making new records. First, it achieved the $20k breakout, and then it got a breakthrough of $22k. It did not stop there and rallied upward to climb above the $23k figure. In addition to this, it has also recorded a new high in its market cap by crossing the mark of $400 billion.

At the time of writing, the price value of the coin is standing above $23,000 with a change rate of over 14 percent in the last 24 hours. The current bullish behavior of the coin shows that Bitcoin is looking to make more new highs in the coming days as well.

Author: MubaShar Nawaz
MubaShar Nawaz is an experienced writer working for TheForexPro.info. Having passion for writing, he covers news articles from the finance and trading world.

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