Deribit Sees 17% Growth in Crypto Derivatives Trading Volume in August

The chart of the day is brought to you by crypto dot com. The world's fastest growing crypto app. All right, let's take a look at the chart of the day trading volume across crypto derivatives listed on the Panama based Darabi exchange grew last month. Even as global activity cooled. This chart shows debits derivatives market volume rose to $42 billion in August, a 17% increase from July while derivatives volumes worldwide declined 12.1% to around $1.6 trillion. Luke Strier, Chief Commercial Officer at Darabi told Coindesk quote, the resilience can be attributed to the strong performance of our options segment. He added notably e options recorded their highest volume since March of this year. Meanwhile, Bitcoin continues to show strength initially buoyed by its use as a banking system hedge in March and now further invigorated by the upcoming ETF decision and quote options are contracts that give the purchaser the right to buy or sell the underlying asset at a preset price at a later date. A call option offers the right to buy and a put gives the right to sell debit controls. Nearly 90% of the global crypto options activity. That's a wrap for today's chart of the day. I'm Jenna. We'll see you next time to unpack more of the data behind top news stories.