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Cryptocurrency derivatives, such as futures and options, have surpassed the number of coins traded in spot markets for June, according to a monthly report by CryptoCompare.
- Trading volumes, which have closely followed bitcoin's decline, slumped across both spot and derivatives markets during the month when compared to May.
- In June, spot volumes decreased by 42.7% while total derivative volumes decreased 40.7%, CryptoCompare reported.
- This was also the scenario for bitcoin and ether futures open interest, which fell to 31.8% and 29.3% respectively.
- While volume was down, monthly derivatives volume exceeded spot this year for the first time, Bloomberg reported Tuesday.
- Open interest for futures across all products fell 40.9% month-over-month to $16.4 billion. That marks the lowest level since January this year.
- Derivatives volumes also slouched 40.7% in June to $3.2 trillion, while total spot volumes decreased by 42.7% to $2.7 trillion, CryptoCompare reported.
