Crypto Options Surge: $20 Billion in Bitcoin and Ether Activity

The notional open interest in bitcoin and ether options contracts on Deribit has reached $20.64 billion, nearing the peak recorded in November 2021. This milestone reflects the growing interest in options trading and the overall market expansion. Additionally, Goldman Sachs predicts that Ethereum's Dencun upgrade, expected in Q1 2024, will enhance the blockchain's scalability and reduce transaction costs for layer-2 rollups. Meanwhile, FTX founder Sam Bankman-Fried testified in his criminal trial, defending his company's bankruptcy filing. Bitcoin's price has decoupled from Wall Street's tech-heavy index, with a 34% increase since early September.