Innovations in Crypto Derivatives: Blue Oceans Beyond Perpetual Contracts
New Species in the Derivatives Market for 2024:
Options DEX: Deribit’s daily trading volume exceeds 5 billion, GMX launches v2 on-chain options;
Prediction Markets: Polymarket bets on the U.S. election, single contract amount exceeds 20 million;
Volatility Products: Volmex launches BTCVIX index futures.
Institutional Demand Spurs:
1) CME Ethereum options open interest hits a new high;
2) Goldman Sachs customizes structured products for clients. Retail investors need to be cautious of the gamma risk of complex derivatives.