Cryptocurrency Derivatives Surpasses Number Of Coins Traded In Spot Markets.
2021-07-13 | Big Bob
Cryptocurrency derivatives,
like futures and options, have surpassed
the number of coins traded in spot markets for June,
consistent with a monthly report by
CryptoCompare.
Trading volumes, that have closely followed Bitcoin [
BTC], decline, slumped across both spot and derivatives markets during the month
in comparison to May.
Earlier in June, spot volumes decreased by 42.7% while total derivative volumes decreased 40.7%, CryptoCompare reported.
This was also the scenario for Bitcoin [
BTC] and Ethereum [
ETH] futures open interest, which fell to 31.8% and 29.3% respectively.
While volume was down, monthly derivatives volume exceeded spot this year for
the primary time, Bloomberg
reported Tuesday.
Open interest for futures across all products fell 40.9% month-over-month to $16.4 Bln. That marks
rock bottom level since January this year.
Derivatives volumes also stood 40.7% in June to $3.2 trillion, while total spot volumes further decreased by 42.7% to $2.7 trillion, CryptoCompare report outlined.
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