Cryptocurrency Derivatives Surpasses Number Of Coins Traded In Spot Markets.

Cryptocurrency Derivatives Surpasses Number Of Coins Traded In Spot Markets.

2021-07-13 | Big Bob

Cryptocurrency Derivatives Surpasses Number Of Coins Traded In Spot Markets.

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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