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Bitcoin Option Interest Soar to $10 Billion

Interest in Bitcoin Options market is booming as bitcoin and crypto market continues to set new records

The open interest (OI) across bitcoin options market has reached $10 billion dollar

Open interest is the total number of outstanding derivatives contracts such as options futures that has settled yet

Options are contracts that gives buyers and sellers to purchase asset at specific price on a date in the future where sellers pay a premium

On the other hand futures work almost same but buyers have no option to refuse the trade and are obliged to buy the asset

Until the trade of the asset settles they stay open and a interest (funding rate) is charged which adds to the open interest

According to crypto analytics platform Skew, crypto derivatives platform deribit is responsible for most open interest (OI)

Deribit generated over $8.7 billion dollar followed by okex ($669 billion) bit.com($561 billion) and cme with ($398 billion)

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