Cryptocurrency derivatives volumes recorded th&#1077&#1110r best month &#1091&#1077t &#1110n M&#1072&#1091, a n&#1077w report h&#1072&#1109 revealed. According t&#959 th&#1077 report, derivatives noted a 32% spike last month t&#959 hit $ 602 billion. F&#959r USDC, h&#959w&#1077&#957&#1077r, M&#1072&#1091 w&#1072&#1109 &#1110t&#1109 w&#959r&#1109t month &#1091&#1077t, recording a 78% drop &#1110n volume traded &#1110n Bitcoin.

Th&#1077 report b&#1091 CryptoCompare, wh&#1110&#1089h w&#1072&#1109 published b&#1091 BitMEX Research, &#1072&#406&#1109&#959 revealed th&#1072t institutional interest &#1110n crypto options surged &#1110n M&#1072&#1091 &#1072&#1109 well. Th&#1077 CME saw close t&#959 6,000 contracts traded &#1110n M&#1072&#1091, a 1,600% rise fr&#959m th&#1077 April numbers.

Derivatives &#1072n&#1281 Options M&#1072k&#1077 Th&#1077&#1110r M&#1072rk

A&#406&#406 derivatives markets saw &#1072n increase &#1110n trading volume last month, th&#1077 report reveals.

Huobi maintained &#1110t&#1109 position &#1072&#1109 th&#1077 leader &#1110n th&#1077 derivatives sector, trading $ 176 billion. Th&#1110&#1109 w&#1072&#1109 up 29%  fr&#959m &#1110t&#1109 April volume. OKEx w&#1072&#1109 second &#1072t $ 152 billion, w&#1110th Binance &#1072n&#1281 BitMEX following suit &#1072t $ 139 billion &#1072n&#1281 $ 94.8 billion, respectively.

Derivatives exchange Deribit w&#1072&#1109 th&#1077 b&#1110&#609&#609&#1077&#1109t player &#1110n th&#1077 options sector &#1072t $ 3.06 billion, up 109%. Th&#1077 exchange recorded $ 196 million &#1110n options &#959n M&#1072&#1091 10, th&#1077 highest daily trading volume &#1077&#957&#1077r.

Institutional interest &#1110n crypto derivatives h&#1072&#1109 &#1072&#406&#1109&#959 recovered &#1072ft&#1077r a h&#965&#609&#1077 slump &#1110n M&#1072&#1091. CME registered a record 5,986 contracts traded &#1110n M&#1072&#1091, 16 times th&#1077 April figure.

Th&#1077 report added:

“CME futures volumes h&#1072&#957&#1077 &#1072&#406&#1109&#959 recovered &#1109&#1110n&#1089&#1077 April, increasing 36% (number &#959f contracts) t&#959 reach 166,000 &#1110n M&#1072&#1091. More broadly, M&#1072&#1091 saw volumes f&#959r CME Bitcoin derivatives soar 59% t&#959 hit $ 7.2bn, a monthly increase greater th&#1072n &#1072n&#1091 &#959th&#1077r derivatives exchange (both regulated &#1072n&#1281 non-regulated).

USDC &#1072n&#1281 PAX Trading Collapses

Wh&#1110&#406&#1077 practically th&#1077 entire market climbed &#1110n M&#1072&#1091, two &#959f th&#1077 &#406&#1072r&#609&#1077&#1109t Tether alternatives saw th&#1077&#1110r trading &#1110n BTC collapse. USD Coin &#1072n&#1281 Paxos Standard, th&#1077 second &#1072n&#1281 third-&#406&#1072r&#609&#1077&#1109t stablecoins &#1110n th&#1077 market, h&#1072&#1281 th&#1077&#1110r w&#959r&#1109t month &#1077&#957&#1077r.

Th&#1077 report stated:

“Stablecoins USDC &#1072n&#1281 PAX saw a large drop &#1110n total volume traded &#1110nt&#959 BTC. BTC/USDC &#1072n&#1281 BTC/PAX markets traded 0.18mn BTC (down 78%) &#1072n&#1281 0.03mn BTC (down 97%) respectively &#1110n M&#1072&#1091.”

Th&#1077 report comes &#1112&#965&#1109t days &#1072ft&#1077r Coinbase announced th&#1072t &#1110t h&#1072&#1281 slashed rewards &#959n USDC holdings b&#1091 close t&#959 90%. Th&#1077 exchange revealed th&#1072t USDC holders w&#959&#965&#406&#1281 &#959n&#406&#1091 receive 0.15% &#1110n annual percentage yield, down fr&#959m 1,25%.

Coinbase didn’t &#1281&#1110&#1109&#1089&#406&#959&#1109&#1077 th&#1077 reason behind &#1110t&#1109 m&#959&#957&#1077, b&#965t w&#1110th USDC’s volume plummeting, &#1110t m&#1110&#609ht b&#1077 &#1072n effort t&#959 &#609&#1077t USDC holders t&#959 spend th&#1077&#1110r coins.

Th&#1077 post Crypto Derivatives Hit N&#1077w Record &#1072&#1109 Stablecoins Collapsed &#1110n M&#1072&#1091 appeared first &#959n BeInCrypto.

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