Unbelievable! Deribit’s Block RFQ Tool Hits $23B – You Won’t Believe How! 😲

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What to know:

  • Deribit’s RFQ interface has whisked away over $23 billion in trades since its launch in March. 💰
  • This clever contraption lets big trades happen quietly, like a sneaky mouse in a cheese factory! 🧀
  • Block trades via Deribit’s RFQ have jumped to a whopping 27.5% this month—talk about a stampede! 🐘

Oh, the world of cryptocurrencies is racing ahead faster than a cheetah on roller skates! 🐆💨

Meet Deribit, the crypto derivatives exchange that’s as popular as chocolate cake at a birthday party! 🎂 Their magical tool, the Deribit Block Request-for-Quote (RFQ) interface, has racked up a staggering $23 billion in trades in less than four months. That’s more money than a dragon could hoard! 🐉

Deribit is the grandmaster of derivatives, offering the largest options market for bitcoin, ether, Solana, and XRP. It’s like a candy store for traders! 🍬

In March, they unveiled the block RFQ system, where big players (the takers) can request prices for their grand trades—think of it as asking for the best deal on a giant chocolate bar! 🍫

Market makers, the friendly folks who keep the liquidity flowing, respond with quotes that are as tempting as a fresh batch of cookies. 🍪 The best quotes are then shown to the taker, who can choose to trade at the best price—like picking the ripest fruit from a tree! 🍏

This system is like a secret passageway for large traders, allowing them to make their moves without causing a ruckus in the market. Imagine buying a truckload of veggies directly from a farm instead of fighting over the last carrot at the market! 🥕

According to Deribit’s CEO, Luuk Strijers, the RFQ system is a marvel that allows for multi-leg trades and multiple quotes, making it easier for big players to get what they want without the fuss. It’s like having a magic wand for trading! 🪄

In March, the RFQ system handled a jaw-dropping $883 million in trades, and by April, it skyrocketed to $6.3 billion! May was even more bonkers, reaching $9.8 billion, and June is already off to a flying start! 🚀

And if you thought that was impressive, the percentage of block trades executed via Deribit’s RFQ has soared to 27.5% this month—up from 17% in April and 21% in May. It’s like watching a rocket launch! 🚀

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2025-06-17 10:16