Deribit Reaches All-Time High Open Interest of $37.6 Billion Amid Bitcoin’s Price Surge
Deribit, a leading cryptocurrency derivatives trading platform, has set a new record in open interest across its bitcoin (BTC) and ether (ETH) contracts, reaching $37.6 billion. This surge in open interest highlights Deribit’s growing market influence and comes as total platform open interest hit $40.8 billion as of Thursday, Nov. 14, 2024.
The record includes increased activity across bitcoin futures, perpetuals, and options contracts, driven by bitcoin’s recent volatility. While bitcoin is down 2% today, it has gained 25% over the past two weeks. Spot trading volume for BTC hit approximately $125 billion, and its market cap is now $1.76 trillion, with a price of $89,091 per BTC.
Deribit’s platform recorded significant volume in bitcoin futures ($1.42 billion) and perpetuals ($1.07 billion). Ether futures and perpetuals contributed $329.5 million and $304.4 million, respectively, with USDC perpetuals adding $73.5 million, reflecting a broad interest in major crypto contracts.
In options trading, demand remains strong with a tendency toward long positions. Open interest in options shows that 63.36% of positions are long, while 36.64% are short. Bitcoin call contracts totaled 243,920 BTC, and put contracts 141,055 BTC. Over the last 24 hours, calls made up 58.66% of volume (34,554.8 BTC), while puts accounted for 41.34% (24,353.3 BTC).
This peak in open interest reflects heightened interest in derivatives amid bitcoin’s recent price fluctuations, underscoring a period of active trading and strategic market positioning.
