Even though the second quarter of 2020 did not manage to register tremendous growth due to the consolidation in the spot market, the derivatives market kept the pace up for the crypto assets. The spot exchanges accounted for only 11% of the transactions in the industry, whereas the crypto derivatives exchanges accounted for almost 50%.
For instance, the market share of Binance, the single spot exchange with the highest volume was 2.69%, which was minuscule compared to the market share of the single derivative exchange with the highest volume, Huobi Futures with 19.98%.
According to data provided by TokenInsight, since 2020 the focus of exchanges has largely shifted to derivatives trading. This was visible in the derivative/spot ratio of Huobi Global/Huobi Futures, which increased by 3.7 times this quarter to 7.26 times. While the turnover of the contract was reportedly 0.53 times more than that of the spot.