Ethereum options trade volume surged in November to hit $1.76 billion for the month

November saw a significant jump in monthly trade volume for Ethereum options, according to data collected by The Block Research.

The November figure — $1.76 billion — represents a 153% increase from October's $695 million. It's the highest reported monthly volume, surpassing August's record of $1.03 billion.

As highlighted in the graph above, Deribit continues to be the dominant market leader in terms of Ethereum options trade, accounting for some $1.64 billion. OKEx accounted for roughly $105 million of the monthly volume.

The Block Research's Lars Hoffmann noted in a recent column that 2020 has seen a significant ramp-up in cryptocurrency options activity

"2020 has been a significant year for cryptocurrency options. Overall, the market structure of centralized exchanges for options trading has matured — exemplified by the strong growth rates in both trade volumes and especially open interest," Hoffmann wrote.