Bitcoin futures Volume spiked over $20B while trading across 12 exchanges
Yesterday, the Bitcoin futures volume crossed the $20 billion figure while trading across twelve crypto exchanges.
According to Skew, the volume of Bitcoin futures has been increasing during the past week and yesterday it spiked over $20 billion that was a huge rise.
Serious bitcoin futures volumes yesterday – $20bln+ on our radar (not an exhaustive count) pic.twitter.com/6kCSFRq6cy
— skew (@skewdotcom) January 9, 2020
OKEx, Huobi, BitMEX, and Binance were the prominent exchanges that contributed most to the rise of the Bitcoin futures volume.
Chicago Mercantile Exchange (CME) and the Chicago Board Options Exchange (CBOE) provided the option of derivative trading to institutional investors in the year 2017. From that time onward, we have seen much growth in Bitcoin futures. This year, it has shown and proved its value by culminating more than $20 billion in the trading volume.
2020 could be a year for derivative trading
After seeing a huge rise in the daily Bitcoin futures volume, it seems that this year could prove a year for derivative trading as the daily futures trading is showing an upward trend.
The interest from institutional investors for Bitcoin futures is increasing. Keeping in view this interest of institutional investors, the world’s largest futures exchange CME has planned to release Bitcoin options on its futures contracts more possibly in the upcoming week.
Bakkt has shown good improvement as it recorded an all-time high of $42.5 million in Bitcoin futures for one day. So it could become a source of Bitcoin futures for institutional investors.
Apart from CME and Bakkt, Binance crypto exchange also aims to open futures trading with a leverage of 75X on its platform for almost the top twenty altcoins.
So this big rise of Bitcoin futures volume and growing interest of investors for futures show that the year 2020 will be a year for derivative trading.
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