Cryptocurrencies
Crypto Derivatives Trading Exceeded Spot in June as Prices Fell
- First time monthly derivatives volume exceeded spot this year
- Bitcoin price slump helped drive 40%-plus volume drop
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More cryptocurrency derivatives were traded in June than actual coins for the first time this year, according to data tracker CryptoCompare.
While trading volumes for both the spot and derivatives markets shrank last month by more than 40%, derivatives garnered 53.8% market share in June, compared to 49.4% in May, CryptoCompare said. Derivatives volumes in June was $3.2 trillion while total spot volumes reached $2.7 trillion.