skip to Main Content
bitcoin
Bitcoin (BTC) $ 98,381.36 0.23%
ethereum
Ethereum (ETH) $ 3,451.51 0.87%
tether
Tether (USDT) $ 1.00 0.04%
xrp
XRP (XRP) $ 2.27 1.77%
bnb
BNB (BNB) $ 700.65 0.99%
solana
Solana (SOL) $ 196.85 0.30%
dogecoin
Dogecoin (DOGE) $ 0.328229 1.49%
usd-coin
USDC (USDC) $ 1.00 0.11%
staked-ether
Lido Staked Ether (STETH) $ 3,449.34 0.95%
cardano
Cardano (ADA) $ 0.904748 3.24%

Crypto Derivatives Market Share Hits All-Time High

CoinDesk - Unknown

Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.

Cryptocurrency derivatives trading volume on centralized exchanges fell in April, but spot trading volume declined even more, pushing the derivatives market share up to a new all-time high.

According to CCData, the market share of crypto derivatives trading rose to a record 77.6% even as absolute derivatives trading volume slid 23.3% to $2.15 trillion. Pushing the market share higher was a 40.2% tumble in spot volume to $621 billion.

Spiking derivatives market share – now higher for three consecutive months – highlights the speculative nature of the crypto market amid uncertainties around the possibility of pause on rate hikes by the Federal Reserve, suggested CCData.

Binance is the largest derivatives trading platform, accounting for 61.4% of the market. OKX and ByBit follow in second and third place, with 15% and 14.6% market shares, respectively.

In May, Coinbase launched a derivatives platform and Gemini announced it will be starting one as well, moves that seem likely to further increase the market share of crypto derivatives markets.

Edited by Stephen Alpher.

DISCLOSURE

Please note that our

privacy policy,

terms of use,

cookies,

and

do not sell my personal information

has been updated

.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a

strict set of editorial policies.

CoinDesk is an independent operating subsidiary of

Digital Currency Group,

which invests in

cryptocurrencies

and blockchain

startups.

As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of

stock appreciation rights,

which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG

.

CoinDesk - Unknown

Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.


Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


CoinDesk - Unknown

Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.

Loading data ...
Comparison
View chart compare
View table compare
Back To Top