Need proof of the maturation of the cryptocurrency market? Look no further than Deribit, the crypto exchange that saw record trading volumes in 2024.
Total trading volume across Deribit’s product suite, which includes crypto options, perpetual futures, volatility futures, and spot market, increased 95% from $608 billion in 2023 to $1.185 trillion in 2024.
Options alone saw $743 billion in trading volume, a 99% year-over-year growth, representing a giant share of total stock market activity. Deribit listed BTC options in 2016 and has since solidified its position as the world’s leading crypto options exchange.
“Deribit saw an increase in activity throughout the year, particularly in the fourth quarter, as institutional investors demonstrated increased optimism around the US presidential election, as well as the bull run of $100,000 worth of Bitcoin that followed,” Luuk Strijers, Deribit’s chief commercial officer, said in a note. shared with CoinDesk.
“The increase in total platform volume and overall product offerings indicates that Deribit continues to be the go-to derivatives exchange, especially as more professional traders enter the space” , added Strijers.
This impressive boom in trading activity on Deribit reflects a maturation of the market, primarily as spot ETFs and options linked to those ETFs have gone live in the United States, accelerating institutional participation. This is a sign of a growing move toward more sophisticated multi-stage trading strategies involving bets on options, futures and volatility.
