In recent months, the trading volume of futures on cryptocurrency platforms has shown a noticeable increase, especially on Binance, which is back in the spotlight.
Binance Futures Trading Volume
In July, Binance's futures trading volume reached $2.55 trillion, the highest since January. This surge came after significant price fluctuations in Bitcoin and altcoins, as the overall market capitalization of cryptocurrencies peaked at a historic $4 trillion.
Not Only Binance
Competitors like Bybit and OKX also reported substantial activity, with trading volumes of $929 billion and $1.09 trillion, respectively. However, Binance remains the clear leader, accounting for over half of the derivatives trading volume across major exchanges.
Futures Market Activity and Institutional Engagement
Futures contracts play a critical role in price discovery for crypto assets. Increased trading volumes in these markets often indicate rising engagement from both institutional and retail traders. Notably, open interest in Bitcoin futures remains high at about $79 billion, reflecting significant market activity.
The recent surge in futures trading volume on Binance and other platforms could signal a recovery in interest towards the crypto market, which has important implications for future prices.
