FTX, one of the largest crypto derivatives platforms, on Saturday successfully launched Bitcoin options trading for its clients.
Started last year, FTX attracted a major mass of traders and is now the eighth largest futures trading platform with an adjusted volume of around $370 million in the last 24 hours. The market is led by Huobi and OKEx, both of which handle billions in trades in a day.
Announced by the exchange’s CEO Sam Bankman-Fried on Twitter, the platform has only listed Bitcoin options, however, its future plans are still unknown. In a further tweet, he also claimed that after about 2 hours of launch, the trading volume of the options contracts touched $1 million.
With the volatility in the spot market, crypto options contracts became very popular and major exchanges are betting big on the arena. Along with Huobi and OKEx, Binance also dived into the sector, along with the launch of its futures platform.