[ad_1]
The Chicago Mercantile Exchange (CME) and Chicago Board Options Exchange (CBOE) markets posted the lowest volumes of bitcoin futures since they were launched in December 2017.
Battle of the markets
New search by TradeBlock shows that at the peak of the summer of 2018, the combined trading volumes reached a parity close to those of spot transactions on the five major US stock exchanges.
Bitcoin's trading volume has declined significantly since its peak in the summer. The latest figures for December 2018 show the lowest volumes since the launch of the product in December 2017.
In addition, the vast majority of this volume went through CME. While the two markets were initially neck and neck, the gap between them has gradually widened since February 2018.
Volume grew rapidly after product launch, peaking in July 2018, reaching $ 5 billion. At the same time, the volume of spot transactions was declining in the US digital exchange offices. On five of the largest US stock exchanges (Coinbase, itBit, Kraken, Bitstamp and Gemini), it has fallen dramatically, from over $ 20 billion to just over $ 5 billion.
Between January 2018 and October 2018, the volume of spot transactions decreased by 85%, following the general trend in bitcoin prices. 00. Although volumes began to increase again in November and December 2018.
Back to the future
At the same time, after the peak of the futures market in July and August 2018, volumes almost halved in September and have declined steadily ever since. The exception to this rule was November, when volumes soared, as a result of volatility and a number of price drops.
This decline in forward transactions in the second half of 2018, combined with the resumption of spot transactions, led to a further increase in spot trading volumes in early 2019.
But 2019 will see the launch of several new term bitcoin products from companies such as Bakkt, Nasdaq, ErisX and CoinFLEX. It will be interesting to see the effect of these platforms on volumes as they go into production in the coming months.
And of course, we may need to take into account the effects of price volatility, if at all during this period.
Will future volumes rebound with rising prices? Share your thoughts below!
Images courtesy of Shutterstock
Source link
