Crypto derivatives trading volume surged by 300%, according to a study

The total trading volume of crypto derivatives has increased dramatically by over 300%, according to a new study. As per a report compiled by TokenInsight, in the first quarter of 2020 alone, “the total futures trading volume in the industry reached $2,1048 trillion, an increase of 314% from Q4 2019.”

The total market turnover in the first quarter of 2020 is around eight times higher than the first quarter of 2019. The average daily trading volume of the whole market in this quarter was about $23.3 billion, which is a 274% increase from 2019.

Along with the prices, liquidations were dropping significantly as well. BitMEX alone witnessed around $500 million worth of liquidated positions in a matter of hours. More than 90% of the futures market volume came from three major asset contracts - Bitcoin accounted for 78%, Ethereum for 9% and EOS for 3%. With regard to trading volume by exchanges, the report said that “BitMEX’s leading position has been taken.”

The study revealed that many exchanges had total futures turnover exceeding $100 billion. These included – Huobi DM ($428 billion), OKEx ($417 billion), BitMEX ($310 billion) and Binance Futures ($222 billion).

The report outlined:

In this exchange ranking, the top three exchanges accounted for 56% of the market volume, and the top six accounted for 81%.