Crypto Derivatives Market Volume

The cryptocurrency derivatives market has seen a significant increase in its total trading volume since the beginning of the present year. New research conducted by TokenInsight shows that the total trading volume of crypto derivates rose by 314% in the first quarter of 2020. According to the report, twelve major crypto derivative exchanges BitMEX, OKEx, Huobi DM, Binance Futures, Deribit, Bitget, Binance JEX, FTX, Gate.io, BFX.NU, BitZ, and KuMEX were included in the trading volume analysis by TokenInsight.

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Total futures trading volume exceeds $2 trillion

Trading volume on the crypto derivatives trading platforms has been on a rise during the global uncertainty caused by the coronavirus pandemic though the whole crypto market suffered a massive price crash in mid-March. TokenInsight report claims that the total futures trading volumes exceeded $2 trillion ($2.1048 trillion) in just the first quarter of 2020.

Crypto Derivatives Market Volume

It clearly asserts that the total trading volume of Q1 2020 has increased by more than 300% from the fourth quarter of 2019. Comparatively, Q1 2020 market turnover is 8 times greater than that of Q1 2019 as the above graph shows.

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Bitcoin accounted for 78%

According to the report, three major asset futures contract accounted for more than 90% of the total trading volume of the cryptocurrency derivatives market. The leading digital asset Bitcoin futures contract accounted for a major part of this turnover that is 78%. Ethereum and EOS accounted for 9% and 3% respectively.

Crypto Derivatives Market Volume Q1 2020

All of the other futures contracts contributed by 10% to this total crypto derivatives market turnover.

However, in the case of crypto derivative exchanges’ volume, the crypto exchanges Huobi DM and OKEx left behind the major crypto exchange BitMEX in exchange trading volume. Huobi DM and OKEx scored $428 billion and $417 billion respectively. While on the other hand, the crypto exchange BitMEX secured $310 billion and Binance Futures with a $222 billion trading volume secured the fourth spot in this category.

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