BTC Futures Volume Posts 2020 Low, ETH Open Interest Surges

Trade volume on Bitcoin (BTC) futures exchanges has plummeted to new lows for 2020, with the BTC futures markets collective posting just shy of $5 billion in 24-hour volume on June 13.

76% of futures trading took place on OKEx, Huobi, and Binance — representing $1.4 billion, $1.3 billion, and $1.1 billion in volume, according to data published by market analysis firm Skew.

BTC futures daily volumes: Skew

BTC futures daily volumes: Skew

The slump in activity has seen volume drop by approximately half for two consecutive days.

Bitcoin open interest rallies strong

While Bitcoin futures activity has slumped, open interest has recently reclaimed its levels prior to the violent Black Thursday crash during mid-March — testing $4 billion for the first time in three months.

Meanwhile, open interest in BTC options has broken into new highs, breaching $1.5 billion just one month after tagging ten-figures for the first time.

BTC options open interest: Skew​​​​​​​

BTC options open interest: Skew

The record highs have been bolstered by a 3,000% spike in open interest on Chicago Mercantile Exchange during May.

BTC options open interest on CME: Arcane Research

BTC options open interest on CME: Arcane Research

Ethereum open interest moons

Open interest in Ether (ETH) options on leading market Derebit have continued to rally into record highs.

In recent days, ETH open interest on Derebit broke above $150 million for the first time, roughly double that of the previous all-time high that was broken only one month ago.

ETH open interest on Derebit: Derebit

ETH open interest on Derebit: Derebit

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