The combined value of spot and derivatives trading volumes on centralized exchanges (CEXs) jumped 14.2% for the first time in three months, to $2.71 trillion in June. The upside came amid a new wave of applications for bitcoin (BTC) exchange-traded funds (ETFs) by institutional investors.
The latest interest follows an application filed by BlackRock, the world’s largest asset manager, in mid-June. The increase in volatility following the US Securities and Exchange Commission (SEC) crackdown on Binance and Coinbase also led to higher trading volumes, according to latest report Powered by CCData Digital Asset Data Provider.
In detailing the numbers, CCData indicated that the volume of spot trading during the last month jumped by 16.4% to $575 billion, and the volume of derivatives reached $2.12 trillion, which represents an increase of 13.7%.
In addition, the Chicago Mercantile Exchange (CME), the world’s largest derivatives market, saw the total volume of derivatives traded on its platform increase by 23.6% to $48.3 billion. CCData indicated that institutional investors especially flocked to bitcoin futures, as trading in derivatives contracts rose 28.6% to $37.9 billion, the highest trading volume on the CME since November 2021.
However, despite positive expectations last month, CEX spot trading volumes remained at “historically low levels” as value fell to a level not seen since the last quarter of 2019. Likewise, the market share of derivatives traded in CEXs declined due to the first time four months ago. The market contracted to 78.7% last month, down from a peak of 79.1% achieved earlier in May.
CCData noted that “Binance remains the largest venue for cryptocurrency derivatives trading, recording $1.21 trillion in volume.” “However, the stock exchange’s market share declined for the fourth consecutive month, falling to 56.8% in June, which is its lowest market share since October 2022.”
Conversely, OKX, the second-largest digital asset derivatives trading platform, saw trading volumes rise by 44.9% to $416 billion last month, CCData noted. The exchange now handles 19.5% of derivatives trading in CEXs, its highest market share since April last year.
The combined value of spot and derivatives trading volumes on centralized exchanges (CEXs) jumped 14.2% for the first time in three months, to $2.71 trillion in June. The upside came amid a new wave of applications for bitcoin (BTC) exchange-traded funds (ETFs) by institutional investors.
The latest interest follows an application filed by BlackRock, the world’s largest asset manager, in mid-June. The increase in volatility following the US Securities and Exchange Commission (SEC) crackdown on Binance and Coinbase also led to higher trading volumes, according to latest report Powered by CCData Digital Asset Data Provider.
In detailing the numbers, CCData indicated that the volume of spot trading during the last month jumped by 16.4% to $575 billion, and the volume of derivatives reached $2.12 trillion, which represents an increase of 13.7%.
In addition, the Chicago Mercantile Exchange (CME), the world’s largest derivatives market, saw the total volume of derivatives traded on its platform increase by 23.6% to $48.3 billion. CCData indicated that institutional investors especially flocked to bitcoin futures, as trading in derivatives contracts rose 28.6% to $37.9 billion, the highest trading volume on the CME since November 2021.
However, despite positive expectations last month, CEX spot trading volumes remained at “historically low levels” as value fell to a level not seen since the last quarter of 2019. Likewise, the market share of derivatives traded in CEXs declined due to the first time four months ago. The market contracted to 78.7% last month, down from a peak of 79.1% achieved earlier in May.
CCData noted that “Binance remains the largest venue for cryptocurrency derivatives trading, recording $1.21 trillion in volume.” “However, the stock exchange’s market share declined for the fourth consecutive month, falling to 56.8% in June, which is its lowest market share since October 2022.”
Conversely, OKX, the second-largest digital asset derivatives trading platform, saw trading volumes rise by 44.9% to $416 billion last month, CCData noted. The exchange now handles 19.5% of derivatives trading in CEXs, its highest market share since April last year.
