At the end of January, Matrixport subsidiary and leading derivatives exchange Bit.com announced the introduction of bitcoin cash perpetual swaps and options. After launch, the daily 24-hour volume has exceeded expectations and has doubled every day since then.
In recent years there have been a number of leveraged derivatives exchanges bitcoin (BTC) and ethereum (ETH) future. This was followed by the addition of perpetual swaps and options based on these crypto assets. Many assume that the coming Launch of ETH based futures in the leading derivatives market managed by CME Group, the price of ether has increased significantly.
Most recently, Bit.com announced that the team would add bitcoin cash (BCH)based on perpetual swaps and options. Bit.com noted that the derivatives markets today are dominated by BTC and ETH, but BCH is a crypto asset recognized by institutions is detailed in the exchange announcement.
Option is one of the few products that allows both parties to make money – thanks to the fact that the takers normally manage it statically while the creators manage it dynamically.
– Daniel Yan (@_D_Y_A_N) February 4, 2021
Bitcoin cash also has almost the same if not equal to the number BTC traders and recently, BCH transactions per day have caught up BTC24-hour transaction rate. In addition, such as ETH and BTC transaction fees have gone up, crypto users find comfort in the fact that BCH fees are less than one US cent per wire transfer.
Following the launch of the BCH-based perpetual swaps and options, the COO of Matrixport and Bit.com, Daniel Yan, explained that the demand for bitcoin cash options is significant. “Monday: BCH option launched, ”tweeted Daniel Yan. Tuesday: 24h volume broke 2,000 BCH Wednesday: Volume broke 4,000 BCH Thursday: broke 8,000 BCH. Friday: 16,000 BCH, ”Commented the executive of the derivatives exchange.
Bit.com’s Daniel Yan added:
[Bitcoin cash volume] doubling every day [at] Bit.com.
Meanwhile, Bitcoin Cash supporters were delighted to hear the volume for that BCH options have doubled daily on Bit.com. a specific thread About Option Volume was a top post on the Reddit forum r / btc over the weekend.
One user said the news was “bullish” while another BCH fan said the momentum will not stop. “It’s not going away,” he said. “Usefulness [is] increasing. Users [are] increasing, ”he added.
What do you think about the daily doubling of bitcoin cash options at Bit.com? Let us know what you think about this topic in the comments below.
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