Delta exchange India has seen its daily volumes sky rocket amid a rise in Bitcoin prices, as Indian customers flock to jump on the bandwagon of futures and options trading in crypto.
Delta Exchange’s daily volume surpassed $1 billion during the trading day, while Bitcoin was hitting new all time highs.
Why Is Delta’s Trading Volumes Rising?
The popularity of Delta exchange stems from the idea that it provides users with a safe and cutting-edge method for traders to trade cryptocurrency derivatives. Additionally, the exchange has positioned itself as a reliable platform for cryptocurrency trading because it complies with India’s Financial Intelligence Unit.
Advanced financial products like cryptocurrency futures, options, and exchange-traded funds (ETFs) have been developed in response to institutional demand. At present, Indian market participants have created a higher demand for these products as they offer risk management tools in addition to new investment opportunities.
Cryptocurrency futures are agreements that allow two investors to speculate on the future value of cryptocurrencies without actually buying any of them.
A type of derivative contract known as a “crypto option” gives investors the right to purchase or sell a particular cryptocurrency, like Bitcoin, at a predefined price and date.
Why Is Bitcoin Price Rising Today?
The price of bitcoin continues to rise today, surpassing $89,000 to set a new record. Amid general market optimism, the announcement of MicroStrategy’s most recent Bitcoin purchase appears to be driving the most recent spike.
According to the company, it paid about $2.03 billion in cash for about 27,200 bitcoins between October 31, 2024, and November 10, 2024, at an average price of about $74,463 per bitcoin, including fees and expenses.
CEO Michael Saylor revealed this most recent acquisition on X, increasing MicroStrategy’s total Bitcoin holdings to about 279,420 BTC.
Delta Exchange’s Trading Volume In Tandem With Global Peers
The rise in Bitcoin prices has made many crypto exchanges hit new all time high daily trading volumes.
One of the largest spot trading volumes in the last 24 hours was recorded by Crypto.com. A staggering $10 billion in trading volume was recorded by the exchange.
Since the announcement of the US 2024 election results, Bitcoin has been reaching new all-time highs. With market now speculating even higher moves, it is likely that many traders are buying more Bitcoin.
The entire cryptocurrency market has surged as a result, with numerous other tokens joining the market titan in its rally.