Cryptocurrency derivatives and options trading saw a double-digit decline, with the former reaching its lowest monthly volumes in 2020.
According to the latest edition of the CryptoCompare Exchange Review, both cryptocurrency derivatives and options took a hit in June.
Derivatives volume dropped a whopping 35.7% last month to $393 billion, reaching its lowest monthly volume in 2020. Despite the decline, total spot volumes witnessed a greater decrease of 49.3% to $642 billion. As a result, crypto derivatives gained market share during the month of June and represented 37% of the market compared to 32% in May.
Derivatives Trading Volume vs Spot Market in June | Source: CryptoCompare
According to the CryptoCompare report, all derivatives exchanges saw “large decreases” in trading volume in June, with BitMEX undergoing the greatest proportional decline (-50.3% to $51.6 billion).