Cryptocurrency derivatives platform Deribit lets traders bet on a $ 100,000 Bitcoin (BTC) price – and within a certain time, no less.
From Thursday, Deribit users can bet on the leading cryptocurrency reaching $ 100,000 through option contracts ending September 24, 2021. The high strike price was established following a surge in daily trade volumes.
When trading options, strike price is the value at which a derivative contract can be bought or sold in exercise.
Deribit processed 754,123 BTC option contracts in November, according to marketing material that appeared on Twitter on Thursday.
The exchange is currently ranked as the tenth-largest of crypto derivatives exchanges on CoinMarketCap, or GDP. GDP reported volumes may not reflect actual market turnover due to methodological issues with how the data is collected and reported.
Data analytics provider Crypto Skew reported Thursday that Deribit is the largest derivatives market for Bitcoin trades. The company also said daily options trading at BTC surpassed $ 1 billion for the first time.
Deribit tells Bitcoin.com:
“We have seen a total turnover of USD 3.5 billion today (24 hour roll) […] We have seen a total turnover of USD 1.4 billion today (24 hour roll):
Bitcoin’s stylish six-figure moon is considered a collection surrendered by its most ardent supporters. What some have found of late is that many of the most bullish prospects come from outside the BTC community.
Citibank appears to have forecast a $ 318,000 BTC price next year, while Guggenheim has called for a $ 400,000 valuation. JPMorgan, meanwhile, says that Bitcoin could soon receive a $ 600 billion catalyst, which would price catapult significantly higher.
Bitcoin roller coaster year looks to end on a positive note as the digital currency is always competing for new highlights. The price came within striking distance of $ 24,000 on Thursday before a modest withdrawal. Bitcoin is currently trading below $ 22,700, having gained 220% so far at the time of publication.