Gate.io, Huobi Enter Booming Crypto Options Scene
Huobi executive director Chen Guang (Huobi)
As the crypto options market explodes, crypto exchange Gate.io opens its new options trading feature and rival Huobi preps for a launch later this year.
- Chicago’s Gate.io said Tuesday that their first bitcoin options contract had been released with short-term expiries of up to twenty-four hours.
- This comes as crypto options volumes went from $200 million in August 2019 to over $3 billion in May 2020, according to data site CryptoCompare. Following the halving, options volumes settled at $2.5 million last month.
- In contrast, trading volumes in the crypto spot and futures markets have fallen by over a third as volatility has spiraled to a yearly-low.
- Singapore-based exchange Huobi – which already offers futures and perpetual swaps – also said Tuesday that it plans to launch bitcoin options contracts sometimes in Q3: contracts for other cryptocurrencies could soon follow.
- The contracts are currently in alpha testing, the exchange said in a statement.
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