The institutionalization of cryptocurrencies accelerates quickly.
The liquidity tool at the request for the exchange of crypto derivatives, the request interface for the demand for the hole (RFQ) of deribas, recorded a volume of cumulative negotiation of more than $ 23 billion in less than four months since its beginnings in early March.
Deribit is an exchange of leading derivatives, offering the largest market of options in the world for Bitcoin traders
Ether, Solana and XRP. It also offers punctual future and trading.
The exchange introduced the Block RFQ system in March, where participants (takers), generally institutions and merchants at high volume, require prices for a structure – a single business of instruments or a strategy with several legs involving a spot, future or options. An exchange of blocks is an important transaction.
Market manufacturers, the entities responsible for providing liquidity, then respond with quotes to one or double -sided, after which the best quote for supply and demand are displayed to the lessee. The best quote for the supply and the best quote for the request is then displayed to the lessee, who can exchange through the supply or demand.
The system allows large merchants to execute orders more effectively outside of public command notebooks, guaranteeing a minimum impact on market prices.
Imagine buying vegetables in large quantities directly on a farm (OTC) and receiving a better price and more flexible terms rather than tending to a crowded market where a large order can considerably increase prices.
“The RFQ system allows multiple transactions, several manufacturers quotes and greater price efficiency – improving execution for major over -the -counter trades while minimizing negative selection. It reflects a strong institutional demand and the Deribit focus on liquidity and quality of exchanges,” said the CEO of Deribit, Luuk Strimers, Coindek.
Strijers noted that the system targets the needs of professional trading and agency operations, such as support for complex structures and significant volumes.
“Block RFQ allows several liquidity suppliers to compete with partial quotes and manufacturers benefit from a reduced unfavorable selection, allowing more strict quotes, while takers benefit from anonymity prices and options,” noted Strijers.
The RFQ system managed transactions worth $ 883 million in March, with booming activity at $ 6.3 billion in April. The momentum continued in May, the counting reaching $ 9.8 billion and exceeding $ 6 billion in the first half.
If this is not enough, the percentage of block transactions executed via the RFQ of Deribit increased to 27.5% this month, against 17% in April and 21% in May.
