CryptoCompare: cryptocurrency derivatives trading volumes set a new record in May

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CryptoCompare: cryptocurrency derivatives trading volumes set a new record in May

CryptoCompare: cryptocurrency derivatives trading volumes set a new record in May

In May, trading volumes of cryptocurrency derivatives amounted to $ 602 billion, a new record for the entire industry.


The derivatives market research was conducted by the British analytical company CryptoCompare. Interestingly, in March the volume of trading in derivatives for cryptocurrency was $600 billion, so the new record is not too different from the previous one. 80% of the trading volume was made on only three exchanges – Huobi, OKEx and Binance. The Chicago Mercantile Exchange (CME) also traded $7.2 billion in bitcoin futures and options, and $176 billion in Huobi options.

CryptoCompare: cryptocurrency derivatives trading volumes set a new record in May

Analysts report that derivatives trading is becoming more and more popular. For example, while in April trading with derivatives occupied 27% of the cryptovoltaic market, in May this figure rose to 32%. Compared to the results of April, the volume of trading in derivatives has increased by 30%. For comparison, the volume of trading in cryptov currencies on the derivatives market grew by only 5 percent in May and reached $1.27 trillion.

The report also notes that the popularity of the USDC and PAX stemcoins has decreased significantly. Bitcoin trading volume for USDC declined by 78% in May, while BTC trading volume with PAX fell by 97% immediately. However, for the market leader, Tether stablcoin, this played only in hand. Currently, 98% of transactions with steblcoins by volume are performed in BTC/USDT pair.

Earlier it was reported that before the awarding to miners on the CME exchange the volumes of trading in derivatives for bitcoins have increased significantly.