A recent crypto exchange review has revealed that the two dominant forces in bitcoin perpetual futures were Binance and BitMEX commanding 40% of the market between them. Top exchanges for total volume were a little unexpected though.
Binance Gains Foothold in Bitcoin Derivatives Market
Research and analytics firm Crypto Compare has recently released its December digital asset exchange review which delves into key developments in the crypto exchange industry.
It revealed that for institutional products, CME still leads the way for regulated bitcoin derivatives with a trading volume for the month at just under $4 billion. Grayscale’s bitcoin trust product (GBTC) has around ten percent of this total traded volume.
For derivatives trading on crypto exchanges, OKEx represented the majority of daily derivatives volumes trading at $3.32 billion per day. Huobi followed with $2.7 billion, BitMEX third with $1.9 billion and then Binance with $797 million.
The report added that the most traded products by total monthly volume were BitMEX’s…