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Skew: trading volumes of cryptocurrency derivatives increased significantly on January 14

Skew: trading volumes of cryptocurrency derivatives increased significantly on January 14

According to the analytical company Skew, on Tuesday, January 14, trading volumes of futures and options for bitcoin increased by 9%, and for ether – by 16%.

In one day, $25 billion worth of bitcoin futures were traded. This is the best indicator since October 26, 2019. The number of open positions on futures of the first cryptocurrency increased by 16% to $3.5 billion. At the same time, the largest volumes of futures trading were shown by the OKEx and Bitfinex exchanges.

Bitcoin options also showed significant growth. About $140 million of options for the first cryptocurrency were traded, with the lion’s share being traded on the Deribit exchange. As for the American market, The leaders were ledgerx and CME platforms.

Trading in ether futures immediately tripled compared to January 13 and exceeded $3 billion. Options for the second largest cryptocurrency by capitalization showed a five-fold increase – trading volumes amounted to about $7 million.

According to analysts, the growth in trading volumes is associated with the launch of trading options for bitcoin on the Chicago Mercantile exchange (CME), as well as the growing interest of institutional investors in the cryptocurrency industry.

“CME has had a great start in options trading, which has attracted attention to the cryptocurrency industry from traders who trade in traditional markets,” said Emmanuel Goh, CEO of skewAnalytics.

According to the operating Director of Deribit Marus Jansen, the growth of trading indicates the maturation of the market. This is also associated with the growth of the price of the first cryptocurrency, since the entry of new players into the market increases the demand for the asset.

Earlier, skew analysts reported that the most liquid platform for trading perpetual contracts for bitcoin was the BitMEX exchange.