Trading volume of crypto derivatives increased 14% in June to $2.13 trillion, CCData said. Still, its share of total market activity fell for the first time in four months. LedesmaLyllah reports.
against Binance US and Coinbase, and the positive outlook in the market following the filing of spot Bitcoin ETFs by the likes of BlackRock and Fidelity, have contributed to an increase in trading activity last month,” said CCData.
Still, spot trading volumes remain at historically low levels. Spot trading volume in the second quarter was the lowest since Q4 2019, according to the report. For the derivatives market, volumes increased by 14% in June, representing 78.7% of the crypto market. That, however, is down from 79.1% in May, marking the first drop in derivatives market share in four months, an indication that the EFT filings spurred spot accumulation of crypto assets, according to the report.
The report also noted that the total derivatives volume traded on the Chicago Mercantile Exchange , rose 23.6% in June to $48.3 billion.futures, with the volumes rising 28.6% to $37.9bn, the highest volume traded on the exchange since November 2021,” said the report.
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