Glassnode: options share of Bitcoin open interest rose from 25% to 50%
- —Options' share of BTC open interest rose from ~25% to nearly 50%
- —Futures volume is 97% below its 2021 level
- —Bybit's share of options volume grew from <10% to 28%
- —ETH accounted for 32% of Bybit's options volume — more than OKX, Binance, and Deribit
Why it matters: Options are becoming the primary tool for hedging and volatility trading, displacing futures and shifting the balance of power among exchanges.
Source: CryptoPotato