Decentralized finance, or DeFi, one of the largest industries in the cryptocurrency space, surged to more than $150 billion in May 2021. Volatility trading is set to be the next big development for DeFi, ultimately giving traders one more way to profit from the cryptocurrency market’s volatile nature. With this in mind, active traders, hedge fund managers, and institutional investors now require tools to track the volatility of the cryptocurrency market. Experienced traders will otherwise continue to use riskier strategies like long straddles and strangles.