Deribit Block RFQ Tool Achieves $23 Billion Trading Volume in Four Months
The institutionalization of cryptocurrencies is gaining momentum, particularly through Deribit’s new trading tool. Key points include:
- Deribit's Block Request-for-Quote (RFQ) interface has surpassed $23 billion in trading volume since its launch in March.
- Deribit is a major derivatives exchange for bitcoin BTC, ether ETH, Solana SOL, and XRP XRP.
- The RFQ system allows large trades to be executed more efficiently, minimizing market impact.
- In March, the RFQ system facilitated $883 million in trades, growing to $6.3 billion in April and $9.8 billion in May.
- The percentage of block trades completed via the RFQ increased to 27.5% this month, up from 17% in April and 21% in May.
Deribit’s CEO emphasized that the RFQ system enhances execution for large OTC trades while catering to professional trading needs.