Cryptocurrency sector continues to hold on, with Bitcoin (BTC) maintaining its position at the $30,000 level despite the challenges faced by the industry. Despite the heavy blows dealt by regulators, lawsuits, and other developments, the dynamics of the sector remain unchanged in the long run. A leading cryptocurrency company has revealed the area that will experience the most growth and achieve record-breaking volumes in the sector in the coming years.
Cryptocurrency Sector Set to Grow in This Direction
Genesis, one of the leading companies in the cryptocurrency sector, has published its predictions for the industry. Experts from Genesis highlight the parallel growth expected in the traditional finance sector and the cryptocurrency market, emphasizing the potential for record-breaking volumes in options and derivative products in the cryptocurrency market. The report published by Genesis Markets states that growth is expected to manifest itself in the last quarter of 2023. It is noted that options products will be at the forefront, while other derivative products are also expected to attract attention.
Prominent derivative trading platforms like Deribit have experienced significant volume increases recently, attracting investors. Gordon Grant, the CEO of Genesis, commented on the matter:
“We see an increasing interest from institutional investors, most of which is directed towards crypto derivative products. CME’s crypto derivative products officially broke records in July and reached the highest level in three months. ETH was the highest among these volumes. Deribit continues to break records and expand its range of derivative products.”
ETH Gains Attention
Grant also emphasized that ETH is starting to stand out in the ETH/BTC pair, indicating a rising interest in both derivative products and ETH. Ethereum has undoubtedly had one of its most influential years, which is directly related to technical developments.
Ethereum also demonstrates this in terms of price, as it shows to be one of the least value-losing assets in the last 24 hours.
