Total Crypto Derivatives Volume in Q1 2020 Spikes 314% from Q4 2019’s
According to TokenInsight research, in the first quarter of 2020, the total trading volume of cryptocurrency futures exceeded $ 2.1 trillion, which is 314% more than in the fourth quarter of 2019..
By data companies, the market for derivatives linked to digital assets has been growing steadily in recent years. Total market turnover in 1 sq. 2020 increased eightfold compared to the same period in 2019.
Average daily trading volume was $ 23.3 billion, up 274% from the 2019 average.
However, in the report, analysts note that in parallel with the growth of the market, the correlation coefficient between futures and the volume of spot trading fell to 0.31, although at the end of last year it was 0.76. Researchers argue that this indicates an increase in the relative independence of crypto derivatives investors from spots..
The analysis also showed their interdependence, since during periods of abnormal trading in the futures market, the spot is subject to significant fluctuations.
In addition to the growth of the derivatives market, interest is also growing in the cryptocurrencies themselves. At the end of March, the Italian bank Banco Sella launched a service that allows customers to buy and sell bitcoin, as well as make international transfers and pay for goods using it..
text: Ivan Malichenko, photo: Shutterstock