From Thursday, Deribit users can effort on the flagship cryptocurrency reaching $ 100,000 through options contracts expiring on September 24, 2021. The high strike price was set after a surge in daily trading volumes.
In options trading, an exercise price is the value that a derivative contract can be bought or sold when it is exercised.
According to marketing materials released on Twitter on Thursday, Deribit processed 754,123 BTC options contracts in November.
The exchange is currently listed as the tenth largest crypto derivatives exchange on CoinMarketCap or CMC. Volumes reported by CMC may not reflect actual market sales due to methodological problems with how the data is collected and reported.
Provider of crypto data analysis Skew reported On Thursday, Deribit is the largest derivatives market for Bitcoin trades. The company also said that daily options trading in BTC was over $ 1 billion for the first time.
Deribit tells Bitcoin.com:
“Today we achieved total sales of $ 3.5 billion (24 hours a day) […] We’ve seen total sales of $ 1.4 billion today (24 hours a day) .:
Bitcoin’s coveted six-digit moonshot is considered a done deal by its most ardent supporters. What has been shocking to some lately is that many of the most optimistic predictions come from outside the BTC community.
Citibank has seemingly forecast a BTC price of $ 318,000 next year, while Guggenheim has requested an appraisal of $ 400,000. Meanwhile, JPMorgan says Bitcoin could soon be possible receive a $ 600 billion catalyst that would catapult prices up sharply.
Deribit, cryptocurrency derivatives platform, allows traders to bet on a Bitcoin of $ 100,000 (BTC) price – and no less within a certain period.
Bitcoin’s rollercoaster year looks set to end on a positive note as the digital currency vies for new record highs. The price came within a striking distance of $ 24,000 on Thursday, before pulling back modestly. Bitcoin is currently trading below USD 22,700, and is up 220% since the start of the year at the time of publication.