Deribit, a crypto derivatives exchange, announced a trading volume of US$1.1 trillion for 2024, a 95% increase from the prior year’s US$608 billion.

Its year-end report highlighted advancements across various trading segments, including a record 24-hour volume of US$14.8 billion on Nov. 12, shortly after the US presidential election.

Open interest also hit a peak of US$48 billion on Nov. 28, driven by bitcoin surpassing US$100,000.

Options trading saw a 99% rise in notional volumes, while spot trading grew by 810% to US$7.6 billion.

The launch of Bitcoin and Ethereum ETFs and increased interest in memecoins contributed to December 2024 becoming the busiest trading month since November 2021.

In regulatory developments, Deribit moved to Dubai after gaining Virtual Assets Regulatory Authority and adopted the FATF Travel Rule for anti-money laundering.