Deribit, the leading crypto exchange for options, experienced a remarkable surge in trading activity in 2024, underscoring the growing maturity of the crypto market. The total trading volume across its platform, which includes crypto options, perpetual futures, volatility futures, and the spot market, skyrocketed by 95%, from $608 billion in 2023 to $1.185 trillion in 2024.
A significant portion of this growth was driven by crypto options, which saw a 99% increase in trading volume year-on-year, totaling $743 billion. This surge highlights the growing importance of options in the crypto market. Since launching BTC options in 2016, Deribit has solidified its position as the world’s largest crypto options exchange.
Deribit’s Chief Commercial Officer, Luuk Strijers, attributed the rise in activity to increased institutional interest, particularly in Q4, as investors responded to the U.S. presidential election and the subsequent $100k Bitcoin bull run. “The rise in total platform volume and across our offered products indicates that Deribit continues to be the go-to derivatives exchange, particularly as more professional traders enter the space,” Strijers remarked.
The platform’s significant trading volume surge reflects the ongoing maturation of the crypto market. The launch of spot ETFs and options tied to those ETFs in the U.S. has attracted institutional investors, fostering a shift toward more sophisticated multi-legged trading strategies that involve options, futures, and volatility products.
