Futures trading at Kraken nears $1 billion despite bear market
|- Futures trading volume at Kraken has increased more than 500% after they acquired crypto derivatives trading platform and index provider, Crypto Facilities last month.
- Nearly $1 billion in crypto futures has been traded over the past month at Kraken.
The futures trading volume at Kraken has increased more than 500% after they acquired UK-based crypto derivatives trading platform and index provider, Crypto Facilities, last month. Sui Chung, the head of indices and price products at Crypto Facilities, reported that the platform had recorded nearly $1 billion in crypto futures over the past month across all five products: bitcoin, ether, litecoin, bitcoin cash, and ripple.
Chung said:
“Our [daily] users have gone up by a factor of four and that’s across all products, not just major coins but … they’ve all seen similar growth. I think obviously having the support of a major U.S. exchange helped and obviously Kraken bringing our product set to a very loyal user base … that Kraken branding carries a lot of weight … and also the fact that because we run contracts on the major five coins and take collateral on the major five coins … we pay out in [helped].”
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