Crypto Derivatives Volume Just Hit a New Record High
Crypto Derivatives Volume Just Hit a New Record High
Crypto derivatives monthly volume hit a new all-time high of $602 billion in May.
5949 Total views
86 Full shares
![Crypto Derivatives Volume Just Hit a New Record High](https://images.cointelegraph.com/images/1434_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy9lMjRjMWYwY2M3YTcwZjZmODZiYWE2OTMxNDljNWFiZS5qcGc=.jpg)
The crypto derivatives monthly book increased by 1 third in May to hit a new all-time high of $602 billion, according to United Kingdom-based data aggregator CryptoCompare.
The new record is only a shade past the previous i of $600 billion, registered in March. Even so, derivatives are becoming ever more than pop and now account for 32% of the crypto marketplace — upwards from 27% in April. In percentage terms, the monthly volume increase in May for derivatives was half-dozen times larger than the increase in spot volumes, which was upwards 5% to $1.27 trillion.
Huobi, OKEx and Binance accounted for most 80% of May'southward derivatives volume combined. In percentage terms, CME saw the largest monthly increase of 59%, though its $vii.2 billion in volume was dwarfed by market leader Huobi — posting a 29% monthly gain in book with $176 billion.
Considering the options
Institutional options volumes on the regulated platform CME likewise hit record levels in May — increasing past a massive xvi times from April's figures to a new monthly loftier of 5,996 contracts traded. The platform also broke a new daily record on May 28, with CME trading 1,418 Bitcoin options contracts. Derebit's options volume more than doubled in May to $3.06 billion.
There can exist simply one
CryptoCompare's report highlighted some noteworthy shifts in the world of stablecoins, with USDC and PAX both seeing massive declines in volume against BTC — with USDC down 78% this month while PAX lost 97%. USDT represents the overwhelming majority of stablecoin to BTC trading with 98%.
The biggest day of the month, as one might await, was the eve of the Bitcoin Halving, on May 10, which saw a huge spike in spot trading volumes to $64.vii billion. To put that into context, it'southward only nether the top trading solar day in Apr ($66.2 billion) and considerably less than Black Thursday in March ($75.9 billion).
Source: https://cointelegraph.com/news/crypto-derivatives-volume-just-hit-a-new-record-high
Posted by: ocasioupposer.blogspot.com
0 Response to "Crypto Derivatives Volume Just Hit a New Record High"
Post a Comment