- Binance held the largest derivatives trading volume on September
- The general market, however, saw a decrease compares to the record in August
The latest market report from CryptoCompare, a digital currency market report provider, has informed that the largest crypto exchange by market capitalization, Binance, also headed the derivatives market in September, in terms of the traded volume. It surpassed the likes of Huobi and OKEx. On a general note, however, there was a decrease in the trading volume across the major venues in the past month.
Binance exchange headed the derivatives market in September
As CryptoCompare noted in the report, the leading crypto exchange recorded $164.8 billion for all the derivative products traded thought out the past month. Binance exceeded the next closest derivatives exchange, with about $8 billion. The other exchanges include Huobi, OKEx, and BitMEX. They reportedly gained $156.3B, $155.7B, $56.4 billion in the monthly derivatives trading volume for September.
Despite the record today, all the major derivatives platforms saw a decrease in the trading volume for the past month. CcryptoCompare noted that all the top four derivatives exchange, including Huobi and Binance, represented below 90% of the volume traded throughout September. Precisely, Binance noted a 10.7 percent decrease from the volume recorded in August, followed by Huobi (25.8 percent), OKEx (18.5 percent), and BitMEX, which took the most at 30.7 percent.
FTX exchange was the only derivatives platform that noted a positive trading volume in September, at $23.89 billion. This represented a 12 percent increase from its previous record in August.
CME Bitcoin Options
For Bitcoin options, CryptoCompare shared that the derivative platform, CME Group, recorded a 79.4 percent increase in the options contract volume traded in the past month. Precisely, 4,872 options contracts were traded in September compared to the 2715 trade contracts in August. However, the trading platform saw a nearly 11 percent decline in terms of the US dollar equivalent of the trading volume.