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Onchain options volume doubles to $5B, Derive leads but Paradex and Hypercall gain fast.

Market News
05 Oct 2026
Crypto Briefing
View Source
Bullish
Onchain options volume doubles to $5B, Derive leads but Paradex and Hypercall gain fast.

In September 2026, onchain options trading volume nearly doubled to between $4.8B and $5.66B. Derive, formerly Lyra Finance, dominated with about 79% market share, processing $3.8B in notional volume and holding 91-92% of premium market share. However, competitors Paradex and Hypercall showed rapid growth, with Paradex's volume rising 285% after integrating Paradigm's RFQ system, and Hypercall capturing 11.2% of notional trading. Derive's lead is supported by its central limit order book architecture and strong liquidity partnerships. The evolving competition suggests a growing market and potential shifts in market share to watch in coming months.

Derive onchain options market volume nearly doubled to $5 billion in September 2026. For readers following cryptocurrency markets, here is Pluang's snapshot as of Oct 05, 2026 19:01 WIB: 37 of 50 major cryptocurrencies rose today. Notable movers include AXS at Rp23.651 with a 5.45% drop, DOGE at Rp1.723 up 3.42%, and XTZ at Rp5.937 up 2.97%.

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