November 5, 2022
In October the records kept rolling at Paradigm. We had a record high volume month – the sixth in a row – headlined by our first $1 billion day.
Signs that major Central Banks are starting to slow the pace of hikes provided some relief for risk assets and crypto started to break out of recent ranges. This kept our options volumes strong with volatility moving higher.
Meanwhile, the FTX integration is driving a parabolic climb in our futures volumes as we gain market share. The diversification is having a significant impact on our product mix, as spot and futures are now 30% of our total volume. Speaking of diversification, our footprint in DeFi also continues to grow with the official launch of Friktion Labs alongside the Ribbon Finance auctions.
In bear markets, we keep building!
- $10.7 billion notional was transacted in October 2022 🥵
- Transacted 32% of Deribit’s total BTC volume and 28% of ETH
- $2.3 billion total volume on FTX
- The week of October 24th, we had two days where we set All Time Highs of 44,100 BTC traded in a single day, and then two days later we did a new ATH of 44,300! 📈
- On October 26th, we had $1 billion in 24-hour volume with ~$300 million in Futures volume
- Average daily 7-day volume in October was $590.5 million / day
October Trading Activity
In October, the total notional traded through Paradigm was a record $10.7 billion.
Futures Spreads volume are exploding and reached $3 billion
Featured Execution Stats for Deribit Options in October
Multi-Leg Breakdown of Option Products (%)
70% of All Deribit BTC DRFQ Option Transactions on Paradigm Were Priced Better Than the Top of Book Pricing
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The Paradigm Team