Bit.com to launch first BCH options
Bit.com, Matrixport's secure derivatives exchange, is to launch bitcoin cash (BCH) perpetual swaps and options on 20 January, and 1 February, respectively.
Bit.com's offering of Bitcoin Cash options is the first of its kind in the industry. Bitcoin Cash ranks in the top ten of cryptocurrencies recognised by financial institutions.
To put things into perspective, the bitcoin (BTC) and ethereum (ETH) derivatives market grew tremendously during the past few years, and so did their relative shares of the underlying spot trading volume. Currently, the cryptocurrency perpetual swaps market is dominated by BTC, which accounts for ~53 per cent of the market share, while ETH attributes to 20 per cent. BCH takes only 1 per cent of the crypto perpetual swap market share, which is disproportionate to the relative market share of the underlying asset.
The market is hugely dominated by BTC (accounts for ~90 per cent) while ETH takes up the rest, the options market for other major crypto and/or altcoins is close to non-existent. In short, the BCH derivative market is far from maturity compared to its size and underlying price volatility. Bit.com's is hoping its latests product launch will fill this gap in the market.