Bitcoin futures trading volumes of CME and Cboe exchanges returned to the levels of December 2017
Bitcoin futures trading volumes on CME and Cboe have dropped significantly since peaking last summer, according to a new study by TradeBlock..
Both companies launched their futures at approximately the same time – in December 2017. In January, the instruments of both exchanges were characterized by comparable indicators, but in the following months Cboe lost a significant share of the CME market.
As for American crypto exchanges such as Coinbase, Kraken and Gemini, activity on them decreased significantly after peaking in December 2017 – January 2018. Between January and October, trading volumes in the spot market fell by 85%, after which they began slowly rise in November and December.
The decline in activity in the spot market can be explained by the exit of retail investors who have lost interest in this asset class along with the fall in its price. This version is also supported by a decrease in the number of searches related to bitcoin and cryptocurrencies..
It is noteworthy that from December 2017 to August 2018, trading volumes in futures continued to grow.
As you can see in the chart above, November was distinguished by a short-term growth in volumes, but already in the next month the indicator returned to the values of December 2017.
A decrease in trading volumes in the US spot market and an increase in activity in the futures market led to the fact that in July last year, the indicators of these two markets were almost equal.
In the near future, several promising platforms for bitcoin trading, such as Bakkt and ErisX, are being prepared for launch at once, which are likely to have an impact on the formation of the cryptocurrency landscape..
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