Crypto markets remain in a sideways trend, with Bitcoin trading below $26,000 for the past 24 hours and the CoinDesk Market Index (CMI) down 0.42% in 24 hours. Despite this, crypto derivatives platform Deribit saw trading volume increase 17% to $42 billion in August. According to Deribit’s Chief Commercial Officer Luuk Strijers, the driving force behind the increase was Deribit’s options segment, with ETH options recording their highest volumes since March. Strijers noted that Bitcoin’s significant price swings between $25,000 and $30,000 triggered massive liquidations in futures and options on the platform, boosting hedging demand for options contracts. Deribit currently controls nearly 90% of global crypto options activity.
A survey by the World Federation of Exchanges (WFE) revealed a divided attitude toward offering crypto-related products and services. Of the 29 respondents, 12 (41%) said they are already offering crypto-related products or services, with a further seven planning to offer them in the future.