Tuesday was a great day for bitcoin, the price has increased by more than ten percent of the time. At cryptocurrency exchanges, there is billions of dollars worth of bitcoin to be bought and sold. And not only that also the bitcoin derivative exchanges established their busiest day of the year 2020.
Use of derivatives-such as futures and options to speculate on price. You are betting that the bitcoin price will go up or down. In this way, you can go to any price movement to make money.
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The best of the day from October 2019
According to the analyst firm Skew was on Tuesday the 14th of January is the busiest day for the bitcoin futures contracts, since the 26th of October. With more than 25 billion dollars ‘ worth of bitcoin futures contracts have been traded on that day. Exchanges, OKEx, and BitMEX has the highest volume, followed by Huobi.
If you look at the volume of trade, there are stock exchanges such as the Bakkt, and CME Group does not. These grants comprise only a small fraction of the total volume in bitcoin futures contracts.
Source: https://www.skew.com/
Bitcoin options is also very popular, especially in Deribit
Deribit was on Tuesday the 14th of January, a great day, with a volume of 127 million dollars worth of bitcoin put options. Deribit was recently in the news, the Dutch derivatenbeurs is from the 10th of February, under a Dutch BV. Because of the rules and regulations for cryptobedrijven in the Netherlands is more stringent, is likely to be covered for all commercial activities will be under the subsidiary, DRB states of america.
Source: https://www.skew.com/
We Deribit of the data, then OKEx, the majority of the volume with 11 million dollars worth of bitcoin put options. CME Group market traded on Tuesday, only is 730,000 dollars, bitcoin put options.
The volume of the Bakkt is negligible compared to the image shown below. This is quite strange, given that Bakkt this type of investment product that, in October, another big announcement.
Source: https://www.skew.com/
Ethereum contracts are also very popular
Also, ethereum contracts last Tuesday, in the draw. Cryptobeurs Huobi that was the day with the highest trading volume, 1.2 billion dollars ‘ worth of ethereum contracts. At an appropriate distance, OKEx, with 969 million and BitMEX, with the 565-million-dollars. Also, Binance, so not bad at 342 million dollars worth of ethereum contracts.
Source: https://www.skew.com/
Do you have any experience with trading in bitcoin futures contracts, or options? Please let us know in a comment!