Crypto exchange Deribit has seen a skyrocketing rise in trading volumes in 2024. According to the platform’s official report, Deribit’s product suite saw a 95% increase in trading volume from $608 billion in 2023 to $1.185 trillion in 2024.
Deribit’s product line, which is behind the rise in trading volume, include spot market, volatility futures, perpetual futures, and cryptocurrency options.
The rise in trading volume comes at a time when the entire 2024 saw heightened retail investor interest in the crypto sector.
Deribit Records 95% Rise in Trading Volume
With a 95% YoY gain in business volumes and a 99% YoY increase in options notional trading volume, the platform has set a new milestone for growth in 2024.
“The rise in total platform volume and across our offered products indicates that Deribit continues to be the go-to derivatives exchange” said Luuk Strijers, Deribit CEO.
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Deribit’s Rise: What is Behind It?
According to the platform’s official report, continued expansion across all products and assets in 2024 further solidified Deribit’s dominant position in the cryptocurrency options trading market.
Spot trading, the (free) offering with the biggest YoY growth, saw an 810% increase in the overall Deribit volume. Options were the most traded asset, with a total volume of USD 743 billion.
Deribit volumes from 2023 to 2024 increased by 95% year over year, from USD 608 billion to USD 1.185 trillion, breaking the previous record from 2021.
Deribit’s Compliance With Regulators
The rise in the platform’s essential numbers comes as Deribit has been working towards regulatory compliance.
Deribit’s choice to move all institutional investor activity to its Dubai-based company, Deribit FZE, which is currently regulated by the Virtual Assets Regulatory Authority (VARA), demonstrates its commitment to upholding security and regulatory compliance.
With its VARA clearance in April, Deribit became the first derivatives exchange, and the company spent the rest of 2024 preparing for the changeover.
According to the platform, the next stage in improving Deribit’s institutional products and offering top-notch customer service is the move to Dubai’s sophisticated regulatory environment, which takes effect on January 1, 2025.
Deribit Previous Rumors of a Potential Platform Sale
Today’s news on the rise in trading volumes comes as previously, Deribit was a subject of speculations surrounding a potential sale of the platform.
As UnoCrypto reported earlier, Deribit was working with FT Partners to explore strategic opportunities after garnering attention from potential purchasers.
While it currently evaluates proposals for the entire firm as part of its general consulting role, FT Partners was initially hired in early 2023 to help current Deribit investors put up secondary stock transactions.
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