First time ever, Ethereum crosses Bitcoin in the options market
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First time ever, Ethereum crosses Bitcoin in the options market

Nxtgen Virtue , , , , , ,

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

Fast facts

  • At the time of publication, the cumulative dollar value of open Ether options contracts on Deribit was around US$5.7 billion, while open Bitcoin options trades had about US$4.35 billion locked in. 
  • The record is attributed to Ethereum’s upcoming September merge of the current proof-of-work blockchain with the proof-of-stake Beacon Chain blockchain. 
  • Traders predict that “the Merge” will result in a 90% decrease in ETH issuance, followed by an increase in the value of the world’s second-largest cryptocurrency. 
  • The number of open options trades represents the number of calls and put option contracts that an offsetting position has not challenged. 
  • It accounts for more than 90% of global trading volume and open interest in Bitcoin and Ethereum options, making it the world’s largest exchange.

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