#HWGEX According to ChainCatcher, on-chain options trading volume has reached record highs in the past two weeks, recording $44 million in the first week of February and $28 million in the last week of January. Currently, over 80% of the trading volume is concentrated on the Ithaca and Derive protocols, which processed $26 million and $11 million respectively last week. Overtime, in third place, only recorded $2 million. The reasons for the surge in trading volume are still undetermined. Possible factors include the annualized yield on USDT lending on Aave having dropped to around 2%, reducing its attractiveness; and market expectations for Hyperliquid's upcoming HIP-4 market. Renowned DeFi trader Route2Fi recently posted on the X platform that the 2% annualized yield on USDT on Aave is no longer attractive, sparking widespread discussion in the community and reflecting that some users are actively seeking higher-return alternative investment channels.