A total of $711.7 billion (approx.) worth of cryptocurrency derivatives products were traded in August, as volumes went up 53.6% when compared to July. The figure represents a new all-time high for monthly derivatives trading volumes according to CryptoCompare’s August 2020 Exchange Review.
The top crypto derivatives trading platforms saw significant increases in their trading volumes last month. Huobi saw its volume climb 44.7% to $208.5 billion, while OKEx’s volume went up 69.1% to $190.8 billion. Binance’s went up 74% to $184.6 billion, while BitMEX’s volumes went up 43.6% to $72.5 billion. These four platforms, the report points out, represented over 90% of the derivatives volume throughout the month of August.
At the same time it seems that institutional trading volumes on the CME, increased by 55.7% in August compared to July.
Sourced Directly from CryptoCompare. Click on the following link for the full report: https://www.cryptocompare.com/media/37305449/cryptocompare_exchange_review_august_2020.pdf