Cryptocurrency
Crypto Derivative Volumes Hit Record $602B in May: Report
As reported by Coindesk, “A flurry of crypto options activity ahead of Bitcoin’s halving contributed to derivative volumes hitting a new all-time high in May. “In a new report Thursday, London-based data aggregator CryptoCompare found crypto derivative volumes increased 32% to $602 billion. That’s a new all-time high, squeaking past the previous record of $600 billion set in […]
As reported by Coindesk, “A flurry of crypto options activity ahead of Bitcoin’s halving contributed to derivative volumes hitting a new all-time high in May.
“In a new report Thursday, London-based data aggregator CryptoCompare found crypto derivative volumes increased 32% to $602 billion. That’s a new all-time high, squeaking past the previous record of $600 billion set in March.
“Most of the heavy-lifting came from Huobi, OKEx and Binance. The three exchanges made up 80% of May’s derivative activity. Huobi was the largest, with $176 billion in volume, up 29% from April. OKEx and Binance came in with $156 billion and $139 billion, respectively.
“But CryptoCompare also found there was a notable increase in trading activity around crypto options, contracts giving the owner the right to buy or sell the underlying at a specified date and price…”