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Crypto derivatives reaches highest market share: CryptoCompare

Cryptocurrency derivatives market reached a new all-time high in January, with derivatives volumes remaining stable at USD 2.86 trillion.

According to CryptoCompare’s January 2022 Exchange Review,  the cryptocurrency derivatives market has reached an all-time high in market share of 61.2 percent. Breaking its previous all-time high of 57.3 percent observed in November 2020.

According to the research, the expanding derivatives market indicates a “increase in hedging and speculation in cryptocurrency markets in January, as investors migrate to trading futures and options.” 

  • Derivatives market volumes remain below their all-time highs of $4.96 trillion set in May 2021.
  • Binance was the top derivatives exchange in January, accounting for 51.6 percent of the market.
  • According to the data, derivatives exchanges exchanged a day maximum of $181 billion on January 21.
  • Top-tier cryptocurrency exchanges saw a 21.2 percent decline in trading volume, while lower-tier exchanges saw a 66.3 percent drop. 

While spot and derivatives volumes fell, BTC options contracts on the Chicago Mercantile Exchange experienced a 28.6 percent increase in trading volume in January to 1,882 contracts.

Vaishali Goel
Vaishali Goel
Technology enthusiast, explorer and academic scholar. Currently exploring the crypto world. Join me in my journey to see how crypto, NFT and Metaverse will change the world.
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