According to a monthly report by CryptoCompare, the volume of crypto derivatives such as futures and options exceeded the spot market in June.
Trading volume, which is closely following Bitcoin’s decline, has declined in both the spot and derivatives markets compared to May.
In June, derivatives volume fell 40.7% to $ 3.2 trillion, while total spot volume fell 42.7% to $ 2.7 trillion. In the midst of the decline, however, the monthly derivative volume exceeded the spot value for the first time this year.
As a result of lower prices and lower volatility, spot volumes fell by a whopping 42.7% to $ 2.7 trillion in June.
It was followed by the volume of derivatives, which fell 40.7% to $ 3.2 trillion.
This is the first time this year that the derivatives volume has exceeded the spot!
More in ours #ExchangeRezension https://t.co/pfsMOREOlm pic.twitter.com/5Nnu3R31vG
– CryptoCompare (@CryptoCompare) July 9, 2021
A similar bearish scenario played out for the Open Interest (OI) of Bitcoin and Ether futures, which fell to 31.8% and 29.3%, respectively.
Source: CryptoCompare
The open interest for futures contracts across all products decreased compared to the previous month by 40.9 percent to 16.4 billion US dollars. That is the lowest level since January this year.
Source: CryptoCompare
Annie
According to Coindesk
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