Crypto trading platforms set various records amid banner end to February

Multiple cryptocurrency exchanges reported daily records after a banner end to February.

Deribit experienced multiple trading-related records on its platform yesterday, with the crypto options and futures exchange seeing open interest pass an all-time-high $29 billion. Platform client assets reached a record $4 billion, while the exchange's 24-hour trading volume hit $12.4 billion — another all-time high.

"Note to ourselves: Stay humble," the Deribit wrote on X.

Meanwhile, Coinbase Institutional's official X account noted that its U.S.-regulated futures exchange witnessed a single-day record amount of unique users on Feb. 29 — more than 850, specifically — which contributed to the platform's second-best-ever day of approximately $380 million notional volume traded in bitcoin and ether contracts.

"Coinbase Derivatives is committed to fostering a fair, transparent, trusted and efficient marketplace for a diverse set of participants," it wrote on X, adding: "Stay tuned as we build more products and better infrastructure to meet this growing demand."

Greeks.live also reported a record daily volume through its platform — $620 million in options volume.

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Fervor in the crypto markets is primarily being driven by demand for the newly launched bitcoin exchange-traded funds in the U.S. Coupled with the decreasing supply of bitcoin, "you could have an upward spiral that goes for a little while," Bloomberg Senior ETF Analyst Eric Balchunas explained.

Balchunas' comments come after U.S. spot bitcoin ETFs generated a record net inflow of $673.4 million on Wednesday, surpassing the previous high of $655.2 million set on their Jan. 11 launch day.