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The State of Crypto Derivatives

A joint report from Bybit and Glassnode on how crypto derivatives changed shape: how options took share of the book, how the venue map redrew itself, and what the market is pricing now. Three passes through Glassnode's venue-resolved derivatives and market data, for traders and allocators who need to read the structure behind the price.

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Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving a global community of more than 80 million users across spot and derivatives markets.
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Institutional investors leverage Glassnode's industry-leading market intelligence to drive allocation decisions in digital assets.
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