Do you need proof of the maturation of the crypto market? Look no further than Deribit, the crypto exchange that recorded record trading volumes in 2024.
Total trading volume in Deribit’s product suite, which includes crypto options, perpetual futures, volatility futures and the spot market, increased 95% from $608 billion in 2023 to $1.185 trillion in 2024.
Options alone recorded a trading volume of $743 billion, a growth of 99% year-on-year, accounting for a gigantic share of the total exchange activity. Deribit listed BTC options in 2016 and has since cemented its position as the world’s leading crypto options exchange.
“Deribit saw an increase in activity throughout the year, particularly in Q4, as institutional investors showed increased optimism around the US presidential election, as well as the $100,000 Bitcoin bull run that followed,” Deribit’s Chief Commercial Officer Luuk Strijers said in a note . shared with CoinDesk.
“The increase in overall platform volume and across our offered products indicates that Deribit continues to be the best derivatives exchange, especially as more professional traders enter the space,” Strijers added.
This impressive boom in trading activity on Deribit reflects a maturing of the market, primarily as spot ETFs and options linked to those ETFs went live in the US, accelerating institutional participation. It is a sign of a growing shift towards more sophisticated multi-legged trading strategies involving options, futures and volatility bets.
