Market Summary 17/12: Bitcoin, Ethereum, Ripple…

Skew tweeted the news via twitter on Thursday. Deribit, a major global crypto futures and options exchange, had the largest BTC options volume on the day at $879 million.

The company is by far the most popular of the BTC options exchanges and dominates the BTC options market. Bit.com came in second place at $84 million.

Third place is Major global crypto exchange OKEx at $62 million.

BTC options started the year a bit short of $200 million but have seen tremendous growth this year. The growth also comes with a huge increase in interest in Bitcoin options open interest, or OI.

According to Skew, Bitcoin options’ OI almost reached the $6 billion threshold on Dec. 16, rising from around $600 million in early January.

The high OI rates is attributed to the increasing liquidity of options as well as growing number of market participants.

Bitcoin has reached a new record high by surpassing the $20,000 threshold for the first time since december 2017.

The poster child of cryptocurrency continued its climb, briefly rising to $23,500 on Dec. 17.

Ripple News

Ripple gained by almost 24% on Thursdays to a new weekly high at $0.585.

A lot of the crypto currency was in the same position as they rode the high from bitcoin's record breaking climb.

Ethereum News

Ethereum was also influenced by the move as it gained 11.29% on Thursday. Ripple's higher growth percentage can be attributed to its much cheaper value.

Perpetual Protocol, a newly launched DeFi derivatives exchange, announced that the platform had already crossed its $500,000 open interest (OI) cap for decentralized perpetual contracts.

The announcement is going barely 24 hours after its launch. The company decided to lift its OI limit to double of the previous limit at $1 million.

It also did the same for the personal position cap for Bitcoin (BTC) and Ether (ETH) trading pair. BTC Futures OI.

Bitcoin options trading volume and other Bitcoin derivatives continue to reach for new heights and milestones.

In conclusion, the cryptocurrency market is enjoying a rise that is spearheaded by bitcoin's not surprising tremendous increase.

The other altcoins and other derivatives as expected are gaining from its rise.

The question is, if this rise will continue or if we would expect to see a dip soon? And how far will it dip?