Cryptocurrency Exchanges Witness Record-Breaking Activity As February Concludes With Strong Performance

A remarkable close to the month of February saw major cryptocurrency exchanges setting new records daily.

Yesterday, Deribit achieved several milestones on its platform, including a record-setting open interest that surpassed $29 billion. Client assets on the platform reached an all-time high of $4 billion, and they witnessed their highest ever 24-hour trading volume at $12.4 billion.

“Reminder to stay grounded,” Deribit tweeted.

Coinbase Institutional also observed a significant milestone on February 29, as mentioned in their official tweet. Their U.S. regulated futures exchange saw over 850 unique users in a day—setting a new single-day record, contributing to their second-highest trading day with roughly $380 million in notional value for bitcoin and ether contracts.

The institution stressed their commitment to building a marketplace that is fair, transparent, and efficient, and they hinted at future enhancements, saying, “Stay tuned for new products and enhanced infrastructure to accommodate the rising demand,” as they shared.

On the same day, Greeks.live also reached a new record with $620 million traded in options volume, as they reported.

The enthusiasm in the crypto markets is largely driven by the demand for newly introduced bitcoin exchange-traded funds (ETFs) in the U.S. With bitcoin’s supply on the decrease, “an upward spiral could ensue for a while,” predicts Bloomberg Senior ETF Analyst Eric Balchunas mentioned.

This assertion followed the record net inflow of $673.4 million into U.S. spot bitcoin ETFs on Wednesday, topping their previous highest inflow of $655.2 million marked on the initial launch date, January 11.

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