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ETH crosses Bitcoin in options market for first time in history


forkast.news 02 August 2022 03:37, UTC
Reading time: ~2 m

Ethereum blockchain’s native token Ether (ETH) has surpassed Bitcoin (BTC) in the options market for the first time on Deribit exchange.

Fast facts

  • The cumulative dollar value of Ether options contract opens on Deribit was around US$5.7 billion, while open Bitcoin options trades had about US$4.35 billion locked at the time of publication.
  • ETH’s record is attributed to Ethereum’s upcoming merge of current proof-of-work blockchain with proof-of-stake Beacon Chain blockchain scheduled for September this year.
  • Traders anticipate “the Merge” will cause a 90% reduction in ETH issuance, followed by a rise in the value of the world’s second-largest cryptocurrency, according to CoinDesk.
  • Open options trades indicate the number of call and put options contracts traded that have not been challenged by an offsetting position.
  • Deribit is the world’s biggest Bitcoin and Ethereum options exchange, accounting for more than 90% of the global total trading volume and open interest.

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