Category: Ethereum News

FTX Launches Uniswap IndexFTX Launches Uniswap Index

FTX an exchange launched in 2019 which became popular among traders for its diverse range of trading products and markets has today launched a Uniswap index

Uniswap is a decentralized protocol based on Ethereum for providing liquidity to the Ethereum Network. It became popular in the past few months due to the yield farming craze.

The Uniswap index price will be the sum of the asset prices of the pools listed on FTX’s support page multipled by FTX’s ETH index.

With the launch of the index came the 4 products based around it. A Uniswap perpetual contract, a Uniswap futures contract, and 2 Uniswap leveraged tokens.

Cryptocurrency Options Trading on Deribit Make New All Time HighCryptocurrency Options Trading on Deribit Make New All Time High

Founded in 2015, Deribit is a cryptocurrency derivatives exchange which offers perpetual swaps, futures contracts, and most notably cryptocurrency options. Today it has announced a record day in terms of options trading volume.

On the 27th of July Deribit announced that it had traded over 50000 Bitcoin options contracts with a dollar value exceeding $527 million. What is also noteworthy is that open interest (the amount of outstanding contracts) also reached a new all time high with a notational value of $1.5 billion.

Deribit – BTC Options Volume

Not only did Bitcoin options trading break records but so did Ethereum trading. With a new open interest record of 885,000 contracts equivalent to $281 million.

These new records in trading volume come off the back of an increase in market volatility as it appears that the stagnant market volatility that characterized the market in previous month has dissipated as both Ethereum and Bitcoin push towards new local highs.

BTC/USD

This new options record can give us insight into two things: Deribits dominance of the options market, and the continuing demand for more advanced cryptocurrency derivatives like those found on Deribit.

When we look at the share of total options trading volume we can see that Deribit is miles ahead of the competition.

Bitcoin Options Volume Among top Exchanges

As you can see from the chart above Deribit made up more than 88% of the trading volume. Beating out every other exchange significantly. Including traditional financial giants such as CME.

This new trading record also shows the increase in demand for more complex trading instruments. Your trading product does not do over $527 million in volume by accident it shows true demand. And it seems at the moment that Deribit is the platform to meet said demand.