Cryptocurrency Derivatives Trading Volumes Hit $602 Billion Record in May

2020-6-6 18:06

Coinspeaker
Cryptocurrency Derivatives Trading Volumes Hit $602 Billion Record in May

On Thursday, June 4, London-based cryptocurrency data aggregator CryptoCompare released a new report showing that cryptocurrency derivatives volumes increased by a massive 32% topping $602 during the last month of May. As per the report, only three cryptocurrency exchanges Huobi, Binance, and OKEx contributed 80% of the total activity of derivatives. Huobi alone contributed $176 billion in volume showing a rise of 29% from April. OKEx and Binance followed with $156 billion and $139 billion respectively. In May 2020, the total monthly volume topped at $602 billion beating its previous record of $600 billion in March 2020. This also shows that the Bitcoin trading volume has recovered from the crypto market crash of March.

Also, according to the CryptoCompare report, there was a notable increase in the activity around crypto options. In May, the total monthly option contracts traded on CME were 5,986, 16x more than April. Besides, CME’s Futures contracts also shot up by 36% reaching a total volume of 166,000.

The volume of Deribit options contracts nearly doubled to $3.06 billion last month. Just before the Bitcoin halving on May 10, trades worth $196 million passed through the Deribit exchange. This turned out to be the single biggest day in the exchange’s four-year history.

Speaking to Decrypt, CryptoCompare’s Head of Research, Constantine Tsavliris, said:

The uptick in derivatives volumes “may signal interest in digital assets from a more sophisticated class of investors. While the largest exchanges that operate in the spot markets have more or less been established for quite some time, less established derivatives players such as Binance have seen growth in volumes month on month.”

Spot Exchanges Also See a Rise

Last month, the spot volumes also rose by a total of 5%. The spot trading still remains as one of the most popular ways of trading cryptocurrencies as these exchanges process a total monthly volume of $1.27 trillion. This is around 32% of the market’s total volume.

Just like the crypto options volumes, the ones for spot exchange also spiked on May 10, a day before the halving. Over the month of May following the halving, there was also some activity of Bitcoin dumping reported. The trading volumes crossed around $65 billion and most of the trading took place on exchanges that CryptoCompare thinks were low in quality. Tsavliris said:

“In general, lower-tier exchanges tend to be far less regulated than top tier exchanges, offering mainly crypto to crypto markets. As a result, they have fewer KYC restrictions and quite often offer lower fees than other top tier exchanges.”

For other crypto news, please, follow this link.

Cryptocurrency Derivatives Trading Volumes Hit $602 Billion Record in May

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Global Cryptocurrency (GCC) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0020448 (-100%)

cryptocurrency trading derivatives record billion volumes hit

cryptocurrency trading → Результатов: 126


Фото:

Problem gamblers more likely to obsessively trade cryptocurrency, research finds

A new study has linked cryptocurrency trading obsession with problematic gambling – those who bet too regularly are at an elevated risk of trading cryptocurrency more frequently. The study, which surveyed 876 adults who had gambled at least monthly, found that more than 50 percent of participants had traded cryptocurrency over the past year.

2019-3-11 16:15


[VIDEO] Crypto Daily Digest: Blockchain and Cryptocurrency News For Today November 8th

Cryptocurrency Market Trading Volume Grows From $10 Billion To $13 Billion Dollars Cryptocurrency Market Trading Volume Grows From $10 Billion To $13 Billion Dollars 3 Cryptocurrency Investment Trading Tips For All Bitcoin Newbies 3 Cryptocurrency Investment Trading Tips For All Bitcoin Newbies Innovative Ways To Indirectly Invest In Bitcoin Without Directly Trading Cryptos Innovative Ways […]

2018-11-9 00:21


Фото:

Grupo XP’s Brazilian Clients Will Soon Have Access to Cryptocurrency Trading

Cryptocurrency adoption will likely experience a surge in the coming months. In a recent announcement, it was said that Brazil’s biggest independent brokerage will join the crypto market and will soon be launching a trading platform for Ethereum and Bitcoin, which will give its existing massive client base access to cryptocurrency trading.

2018-9-27 19:29


Robinhood Delves Deeper Into Crypto Trading, Could Challenge Coinbase’s Dominance

Robinhood, more commonly known as the commission-free stock trading app, has been making waves in the cryptocurrency scene lately. Various reports have surfaced stating that the company appears to be getting serious in its cryptocurrency business, putting it on a collision course with Coinbase, the current number one crypto exchange and broker in the US.

2018-6-28 01:59


Фото:

Markets Update: Cryptocurrency Prices Tumble Before the Weekend

Cryptocurrency markets are slumping today as most digital asset markets are seeing losses between 8-20 percent over the past 24-hours. Lots of speculators are attributing the dump to the recent measures taken by Japan’s Financial Services Agency (FSA), asking cryptocurrency exchanges like Bitflyer to make improvements to the Japanese trading platforms’ anti-money laundering practices.

2018-6-23 21:40


Фото:

Still Bullish on Bitcoin Despite Bithumb Hack: Brian Kelly and Charlie Lee Weigh In

Both Brian Kelly and Charlie Lee remain bullish on Bitcoin despite the recent hack of Bithumb, which resulted in the theft of over $31 million worth of cryptocurrencies.   Brian Kelly: Things are Different for Bitcoin This Time Around Earlier this week, South Korean exchange Bithumb – currently the eight largest cryptocurrency exchange by means of trading volumes – was hacked, resulting in the theft of more than $31 million worth of cryptocurrencies.

2018-6-22 09:00