Derive keeps 79% of onchain options market as sector volume doubles to $5B
- —Onchain options volume rose 121.7% month over month in September to $4.829B
- —Derive processed roughly $3.8B, or 79% of notional and 91–92% of premiums
- —Paradex's notional volume climbed 285% MoM, with open interest above $250M
- —Hypercall captured about 11.2% of notional volume; DRV hit an all-time high of $0.3857
Why it matters: Paradex's surge shows that plugging into institutional plumbing like Paradigm's RFQ network can quickly erode the leader's share.
Source: Crypto Briefing