At the end of January, the Matrixport subsidiary and the leading derivatives exchange Bit.com announced the introduction of perpetual swaps and options for Bitcoin cash. After launch, the daily 24-hour volume has exceeded expectations and has doubled every day since then.
In recent years there have been a number of futures exchanges using Bitcoin (BTC) and Ethereum (ETH) futures. This was followed by the addition of perpetual swaps and options, which are also based on these crypto assets. Many believe that the imminent introduction of ETH-based futures in the CME Group’s leading derivatives market has supported the price of ether significantly.
Bit.com recently announced that the team will be adding Bitcoin Cash (BCH) -based perpetual swaps and options. Bit.com noted that the derivatives markets today are dominated by BTC and ETH, but BCH is an institution-recognized crypto asset.
Option is one of the few products where both sides of a trade can make money – thanks to the fact that buyers usually manage it statically while manufacturers manage it dynamically.
This is exactly what we’ve been hearing about our BCH Options product lately! pic.twitter.com/z3wCwJ9Kt3
– Daniel Yan (@_D_Y_A_N) February 4, 2021
Bitcoin cash also has almost the same, if not the same number, of BTC traders, and only recently have BCH transactions per day caught up with BTC’s 24-hour transaction rate. As transaction fees for ETH and BTC have increased, crypto users find solace in the fact that BCH fees are less than a US cent per transfer.
After the introduction of the BCH-based perpetual swaps and options, Matrixport and Bit.com COO Daniel Yan stated that the demand for bitcoin cash options had been significant. “Monday: BCH option launched,” tweeted Daniel Yan. Tuesday: 24-hour volume broke 2,000 BCH Wednesday: volume broke 4,000 BCH Thursday: broke 8,000 BCH. Friday: 16,000 BCH “, stated the futures exchange manager.
Bit.com’s Daniel Yan added:
[Bitcoin cash volume] double every day [at] Bit.com.
Meanwhile, Bitcoin Cash supporters were thrilled to hear that the volume for BCH options at Bit.com was doubling every day. A special thread on option volume was a top post on the Reddit forum r / btc over the weekend.
One user said the news was “bullish” while another BCH fan said the momentum wasn’t going to stop. “It won’t go away,” he said. “Usefulness [is] increasingly. user [are] increase, ”he added.
What do you think of the bitcoin cash options at Bit.com that are doubling every day? Let us know what you think on this matter in the comments section below.
Tags in this story
BCH derivatives, BCH options, Bit.com, Bitcoin (BTC), Bitcoin cash, Bitcoin cash BCH, Bitcoin cash options, cryptocurrencies, Daniel Yan, derivatives, futures exchange, Ethereum (ETH), futures, markets, Matrixport, Perpetual swaps, prices, trading
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