A total of $2.74 trillion (approx.) worth of cryptocurrency derivatives products were traded in March. Volumes decreased by 5.3% in March (compared to February) to $2.74tn for derivative trading. Meanwhile, total spot volumes increase by 9.1% to $3.0tn. The derivatives market now represents 47.8% of the total crypto market (vs 51.3% in February) according to CryptoCompare’s March 2021 Review.
The top crypto derivatives trading platforms in March: Binance was the largest derivatives exchange in March and saw its volume climb 3.5% from January to $1.1trillion. Followed by OKEx at $380bn, Bybit at $372bn and Huobi at $330bn.
At the same time it seems that institutional trading volumes on the CME, increased by 0.3% in March compared to February. In terms of total USD trading volume, CME’s crypto derivatives volumes increased to $60.9 billion in March. See image below.
Sourced Directly from CryptoCompare. Click on the following link for the full report: