The cryptocurrency options market has seen increased interest and trading activity for Bitcoin and Ethereum, with both contracts reaching a record open interest of 15,089 contracts as of March 27, according to CME Group. The estimated total contracts for the quarter stand at 32,000, a YoY growth of 430%. The options market activity coincides with a period of recovery for the cryptocurrency sector, with the market cap holding above $1 trillion and registering a growth of 32% since January 1, 2023. Bitcoin and Ethereum have led the market resurgence, with Bitcoin's market cap at $532.58 billion and Ethereum trading at $1,790 by press time. Other standout assets include XRP, which is holding above $0.50 after breaching the $0.40 resistance level.