Cryptocurrency derivatives trading is gathering interest from all over the world. Last month has proven to be an excellent month volume-wise, with OKEx coming out on top, noting successful growth for the third month in a row.
Derivatives Trading Volume Spike
The year 2020 has been off to a great start for companies providing exposure to cryptocurrency derivatives. Investors and traders from all over the world have shown a keen interest in these trading vehicles over the past three months. Several companies noted an increase in overall trading volume, confirming that this industry is in a good place.
The positive momentum translates in a month-to-month volume increase for OKEx, Binance, and FTX. All of these companies solidify their position in the crypto derivatives market. March volume figures also provided growth for bitFlyer, after a slight decrease in trading during February of 2020.
Not all companies active in the derivatives trading space experience the same growth curve. Huobi has lost some momentum despite noting solid growth in February. BitMEX is also losing some steam, albeit less so than Huobi. The biggest decrease is attributed to CME, as its volume decreased by 43.8%.
The Ongoing Rise of OKEX
Noting back-to-back growth in the first three months of 2020 is very difficult. OKEx shows it can be done, as its derivatives trading volume continues to increase by over 10% every single month. Based on this growth curve, the company is – theoretically- capable of reaching $200 billion in trading volume by the end of Q2 2020.
OKEx CEO Jay Hao explains:
This ongoing growth has been achieved despite increased volatility affecting all cryptocurrency markets. Bitcoin’s price has gone from $10,360 to $4,624 and is now back at $7,375. Those who explored the derivatives markets during this rollercoaster ride have been able to make some good money.
It is also worth noting that OKEx claims to maintain a record of zero clawback in terms of derivatives trading. Even when the Bitcoin price crashed in drastic fashion, that flawless record was maintained without any issues.
The post OKEx Sustains Derivatives Market Growth and Becomes the new Global Leader appeared first on NullTX.
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