Crypto-Derivatives Volume Reaches $602 Billion Mark in May, Report States

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Azeez Mustapha

Updated: 13 October 2022

The crypto derivative activity soared in May and registered an all-time high, as per a report released by crypt data company CryptoCompare.

CryptoCompare says in a recently released May 2020 study that derivative volumes soared to $602 billion, a 32 percent leap. The research also stated key development channels.

As per the report, for May, Huobi, Binance, and OKEx represented at least 80 percent of all derivative activity in the sector. Of the three, Huobi came did come tops to reach $176 billion, leaping 29 percent from April. OKEx reached $156 billion and Binance, with $139 billion, came in third.

CryptoCompare as well provided that the latest halving of Bitcoin may have a great deal to do with this. Numerous traders and investors also had a good amount of extra derivative activity in anticipation of Bitcoin’s halving. The organization further said there was a large increase in the number of crypto options being traded in the study.

Deribit, options exchange had its options to increase volume by more than 100 percent back in May to $3.06 billion. A day before the Bitcoin’s halving, Deribit grabbed at $196 million worth in the highest 24-hour volume of trading since its inception four years ago.

Deribit reached a high of $1bn for the volume of Bitcoin options on May 19.
Chicago Mercantile Exchange (CME)
Cryptocompare reports that last month’s Bitcoin (BTC) derivatives saw huge increases in trading volume with institutional player Chicago Mercantile Exchange (CME) increasing quickest to $7.2 billion at 59 percent.

The volumes of institutional options on CME attained a monthly mark of 5,996 contracts, up 16-fold from April. The regulated exchange also set a new daily high on May 28, with trades of 1,418 Bitcoin options contracts.

Derebit’s options volume increased in May to $3.06 billion by 109 percent.

CME’s futures contract has increased by 36% in May to 166,000 volumes.