Crypto Derivatives Volume Soars in August

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Crypto derivatives trading

Crypto derivatives trading platform Deribit experienced a 17% increase in trading volume to $42 billion in August, with Ethereum (ETH) options recording their highest volumes since March. The platform now controls nearly 90% of global crypto options activity. This surge in trading volume comes as the market remains in a sideways trend, with Bitcoin trading below $26,000 for the past 24 hours.

SEC Ruling on Grayscale Investments’ ETF Application

The enthusiasm following last week’s ruling that the SEC must review its rejection of Grayscale Investments’ application to turn its Bitcoin trust into an ETF has subsided. This ruling had initially sparked optimism in the crypto market, but the impact seems to have been short-lived.

World Federation of Exchanges Survey on Crypto-Related Products

A recent survey by the World Federation of Exchanges (WFE) revealed a divided attitude among its member exchanges toward offering crypto-related products and services. Out of the 29 respondents, 12 (41%) are already offering crypto-related products or services. Furthermore, seven more exchanges plan to offer such services in the future, while 10 have no plans to do so. The survey took place between May and July 2022.

Crypto Market Index Performance

The Crypto Market Index (CMI) is down by 0.42% in the past 24 hours, reflecting the overall market’s sideways movement. Bitcoin has experienced significant price swings between $25,000 and $30,000, leading to massive liquidations in futures and options on the platform. This volatility has increased hedging demand for options contracts, with Deribit’s options segment being the driving force behind the growth in trading volume.

Dwindling Exchange Balance Indicates Long-Term Holding Strategy

On Monday, the exchange balance fell by 14,140 MKR to 65,000 MKR, marking its lowest point since June 21. A dwindling exchange balance typically represents investor bias for a long-term holding strategy. This trend suggests that despite the market’s current sideways movement, crypto derivatives trading remains popular among investors seeking to hedge against future price fluctuations.


In summary, crypto derivatives trading continues to grow, with Deribit dominating the market by controlling nearly 90% of global crypto options activity. The platform’s 17% increase in trading volume to $42 billion in August is a testament to the ongoing interest in crypto derivatives, despite the broader market’s sideways trend. As the World Federation of Exchanges survey indicates, more exchanges may begin offering crypto-related products and services in the future, further expanding the market for crypto derivatives trading.