Bitcoin Futures Exchange Volume Making New All-Time High
The Bitcoin futures market gets a lot of interest in 2019. Binance has launched its own Bitcoin futures contract trading platform. The most waited Bitcoin futures exchange Bakkt is also launched that provides insurance to its users.
The first Bitcoin futures platform was launched back in December 2017 and after that, the price of bitcoin fall very hard. The crypto winter stays more than a year and the Bitcoin price finds a bottom at $3100. Bitcoin is now trading above $9100 that is around 3 times the bottom price.
According to a report by Bloomberg, the trading on Bitcoin futures platforms reached near to 50% of the spot trading value. The report contains data from 13 different bitcoin futures platforms.
The report includes newly launched institutional exchange Bakkt, Binance Futures platform, Bitfinex, Chicago Mercantile Exchange Group (CME), Kraken, Derbit, HUobi Derivative Market (DM), FTX, Bitz, CoinFlex, Bybit, OkEx and Bitmex.
The increase in the futures trading volume is because all major cryptocurrency exchanges now allow users to trade BTC futures contracts. Binance is the best example of this, Binance is the leading cryptocurrency exchange and now offers BTC futures also. According to skew data Binance has acquired 3rd place on all Bitcoin futures exchanges respect to daily trading volume.
Almost all major cryptocurrency exchanges now offer lending and leverage options for users. Users can easily earn upto 10% annually on their crypto holdings. The futures exchange allow speculators to bet against the market.
Bakkt got a lot of volumes after China’s President Xi Jinping comment about the blockchain technology. Bakkt traded 1141 BTC breaking its previous record of 441 BTC daily trading volume.
CBOE one of the first BTC futures provider shutdown the platform in May.
