Ether options could be the new fuel that drives growth in the crypto market.
Ether (ETH) options are having a fantastic year, with open interest on Deribit — the largest market for these options — having surged 315% to $158 million over the past two months, breaking the $150-million barrier for the first time ever.
Even though Ether first came about only to serve the users of the Ethereum platform as a wallet to use with the apps developed on the platform, it has in the recent past emerged as the clear competitor to Bitcoin (BTC), being the second-largest cryptocurrency by market capitalization.
Emergence of ETH options
ETH options mostly emerged in March 2019 when Derbit launched Ether derivatives on its exchange, including options, futures and perpetuals.