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Crypto derivatives trading peaks in May

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Crypto derivatives trading peaks in May

Crypto derivatives trading peaks in May
CONTENT

  • Bitcoin Futures and Options Trading Peaks

  • CME Shows Records for Trading Bitcoin Options

  • Three cryptocurrency exchanges make more than 80% of transactions with BTC futures and options

International consortium of news organizations developing transparency standards.

This is evidenced by the data of the analytical report of the CryptoCompare company. In May, trading in futures and other contracts for cryptocurrencies increased by 32% compared to April this year. In monetary terms, this volume amounted to $ 602 billion.

Derivatives trading conquers the market

Crypto derivatives trading peaks in May

 

According to the data presented, the volume of trading in derivatives in May increased by 32% compared to 27% in April. At the same time, such crypto exchanges as Huobi with a monthly trading volume of about $ 180 million, OKEx – about $ 160 million and Binance – about $ 140 million became the absolute leaders in terms of trading in futures and options on Bitcoin. The top five also included the BitMEX and FTX exchanges. In addition, there has been an increase in Bitcoin futures trading volumes on Deribit and the Chicago Mercantile Exchange (CME).

It also follows from the report that the volume of trading in derivatives in May increased significantly in relation to April this year. On the CME exchange alone, the volume of Bitcoin futures trading in May increased by 59% against April. The situation is similar with Binance. In May, the volume of trading in futures on the stock exchange increased by 58% compared to April. The growth of trading on other exchanges was also noticed: BitMEX showed an increase of 37%, FTX – by 34%, OKEX – by 33%, Huobi – by 29%.

It’s worth noting that Deribit has set its own daily options trading record. On Sunday, May 10, the platform recorded a daily trading volume of $ 196 million.

“Huobi has become the largest derivatives exchange with trading volume of $ 176 billion in May (up 29% from April). OKEx and Binance increased trading volumes by $ 152 billion (up 33%) and $ 139 billion (up 58%), respectively. In May, BitMEX increased trading volumes by $ 94.8 billion (up 37%), while Deribit rose 22% to $ 13.4 billion, ”the report said..

Earlier, BeInCrypto reported that the total value of all Bitcoin options contracts currently open on the Deribit cryptocurrency derivatives platform has reached $ 1 billion. The growth in open interest in Bitcoin options on Deribit looks quite impressive. For comparison, as recently as April 20, the total volume of open option contracts on BTC was only $ 522 million..

CME is gaining momentum

 

Crypto derivatives trading peaks in May

A separate section in the report is devoted to the development of trading on the Chicago Board of Trade (CME). This is the first traditional exchange to start trading Bitcoin futures and options and immediately achieved amazing results..

“Trading volumes in BTC futures on CME increased by 36% and reached 166,000 in May. Meanwhile, the total volume of CME options reached an all-time high in a month, peaking at 5,986 trading contracts (16 times the April volume), ”the report said..

At the same time, on May 28, a record volume of bitcoin options trading was recorded at the level of 1418 contracts per day..

Recall that earlier BeInCrypto wrote that the daily trading volumes of bitcoin futures on the Chicago Mercantile Exchange (CME) exceeded $ 1 billion. Previously, this happened only twice. This dynamic is easy to explain given the price behavior since the beginning of 2020. The bitcoin rate showed a bullish mood, and its volatility has significantly decreased compared to the “dashing youth” of the first cryptocurrency in the world. The combination of these two factors has increased the attractiveness of Bitcoin as an investment asset in the eyes of even traditionally cautious investors..

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