More

    Deribit Exchange Launches Ethereum Daily Options After Success With Bitcoin Contracts

    The Deribit Exchange specializing in crypto derivatives has launched daily Ether (ETH) options, an announcement from Monday and made on Twitter says.

    The strike price intervals for the new product will be $5. Their expiring date will be every day at 08:00 UTC, so traders will only have a window of 24 hours for trading. As far as their trading lifetime goes, this will be 2 days when introduced. Starting with February 19, Deribit will also scale back the tick size for all options, said Andras Caron, Deribit’s CMO. This means the size will be cut back from 0.001 ETH to 0.0005 ETH.

    Deribit Volumes Raised Considerably as a Result of ETH Prices Increasing

    Deribit also launched longer duration options settled in cash, in late March of last year Ever since, it has traded a $1.9 million average daily volume. The exchange’s volumes have risen considerably when the ETH prices have increased, so on February 13, Deribit had a record volume of $13 million in 1 day. ETH has recently reached its 7-month $290 high and gained almost 100% until now, for this year. The derivatives space has been very heated in the last few months, seeing huge names such as Intercontinental Exchange’s Bakkt and Chicago Mercantile Exchange (CME) have launched options on Bitcoin (BTC).

    Deribit Remains a Leader in Options Volume

    Deribit is based in Panama and continues to remain superior as far as options volume. According to Skew, Deribit has handled almost ninety percent of the worldwide volume since January 28.  Deribit's launch of the daily ETH options arrives just 2 weeks after the daily BTC options went live. This is what Caron had to say about what daily options have to offer users:

    “Daily options only have one or two days remaining lifetime and thus lower time value or premium and thus [are] cheaper. These shorter-dated, cheaper options are great instruments to use for short term strategies enabling the trader to hedge events or benefit from expected short term moves.”

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Oana Ularu
    Oana Ularu
    Curious about what’s going on with all the money in the world, Oana is bringing you the latest news in the crypto world. She’s aware of the fact that you need to know everything that’s happening on the financial scene in order to play the cryptocurrency market, so you can count on her to share with you every little detail on what matters.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,366FansLike
    2,784FollowersFollow
    4,136FollowersFollow

    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Galaxy Digital's Mike Novogratz: This Is The Year For BTC Or I Might ‘Hang Up My Spurs'

    Bitcoin proponent, Mike Novogratz is still “most excited” about the world's leading cryptocurrency but “if it doesn't go all out by the end of...

    National Internet Finance Association of China Warns Against Manipulative Crypto Exchanges

    The National Internet Finance Association of China(NIFA) has issued a warning for investors who have been associated with the crypto-verse about the growing risks...

    Cash is King in Coronavirus Ravaged Economy But Bitcoin is “Next in Line to the Throne”: Hedge Fund Manager

    Mark Yusko, the CEO at Morgan Creek Capital Management says coronavirus is unleashing a once in a lifetime downturn. Yusko appeared on CNBC’s “Trading Nation”...

    Bitcoin’s is Gold 2.0; Billionaire Chamath Palihapitiya Lays Out BTC’s Path Forward in Macro Backdrop

    In the latest episode of The Pomp Podcast, host Anthony "Pomp" Pompliano had Chamath Palihapitiya, the CEO of Social Capital as a guest who...

    Binance ‘Leak' Signals Possible Bitcoin Options Trading Launch On The Exchange

    The competition across cryptocurrency exchanges in the crypto derivatives markets is heating up to a boiling point as yet another big player hints at...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.