At the end of January, the Matrixport subsidiary and best derivatives exchange Bit.com announced the introduction of bitcoin cash perpetual swaps and options. Following the launch, the daily 24-hour sum total has exceeded expectations doubling every day ever since.
During the last few years, there’s been a number of spin-offs exchanges leveraging bitcoin (BTC) and ethereum (ETH) futures. This has been followed by the addition of perpetual swaps and options based on these crypto assets as fountain. Many assume that the upcoming ETH-based futures launch on the leading derivatives market operated by CME Group has helped the price of ether a great deal.
Just recently, Bit.com announced that the team would be adding bitcoin gelt (BCH)-based perpetual swaps and options. Bit.com noted that the derivatives markets these days are dominated by BTC and ETH, but BCH is a crypto asset appreciated by institutions, the exchange announcement detailed.
Option is one of the very few products where both side of a trade could fashion money – thanks to the fact that the takers normally manage it statically while the makers manage dynamically.
This is explicitly what we have been hearing lately on our BCH Options product! pic.twitter.com/z3wCwJ9Kt3
— Daniel Yan (@_D_Y_A_N) February 4, 2021
Bitcoin gelt also has almost the same if not equal to the number of BTC merchants and just recently, BCH transactions per day have been catching up with BTC’s 24-hour bargain proceedings rate. Moreover, as ETH and BTC transaction fees have climbed, crypto users are finding solace in the fact that BCH wages are less than a U.S. penny per transfer.
Following the launch of the BCH-based perpetual swaps and options, the COO of Matrixport and Bit.com, Daniel Yan, explicated that the demand for bitcoin cash options has been significant. “Monday: BCH option launched,” Daniel Yan tweeted. Tuesday: 24h measure broke 2,000 BCH Wednesday: volume broke 4,000 BCH Thursday: broke 8,000 BCH. Friday: 16,000 BCH,” the derivatives tit for tat executive noted.
Bit.com’s Daniel Yan added:
[Bitcoin cash volume] doubling everyday [at] Bit.com.
Meanwhile, Bitcoin Cash enthusiasts were thrilled to hear that the volume for BCH options has been doubling daily at Bit.com. One specific thread about the selections volume was a top post on the Reddit forum r/btc during the weekend.
One user said the news was “bullish,” while another BCH fan mean that the momentum won’t stop. “It’s not going away,” he said. “Usefulness [is] increasing. Users [are] increasing,” he added.
What do you propose b assess about the bitcoin cash options volumes over at Bit.com doubling every day? Let us know what you think about this vulnerable to in the comments section below.
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