85% of HYPE options open interest sits on Deribit
- —HYPE options open interest stood at $314 million as of September 28
- —Deribit accounts for $265 million, Deribit for $43 million and Bybit for $5 million
- —Deribit has seen 26,820 trades worth $5 million since August 9
- —Open interest for the October 30 expiry is $129 million, and $95 million for December 25
Why it matters: Concentration on a single venue distorts the read on market sentiment toward HYPE.
Source: TokenPost