WorldCoinIndex Derivatives Report 2020 – Week 37

This week has brought along slight levels of volatility, alongside price resistance testing for most cryptocurrencies, following the previous week’s drop in value. Price analysts worldwide are trying to predict what’s next for the crypto market, whereas some investors and traders are quite wary of future price developments. However, price history has shown us that values do recover quite swiftly, as long as no huge price drops were recorded. Since this isn’t currently the case with bitcoin and other coins, we believe that the price will soon regain its uptrend.

With this in mind, in the case of bitcoin, a price peak of $10,600 was reported this week, whereas the average price gravitated around the $10,250 point. At press time, bitcoin is trading at $10,272.

The total cryptocurrency market cap is currently reported at $334 billion.

ETH is currently trading at $363, XRP at $0.24, LTC at $48, EOS at $2.75, Chainlink at $12.38, and BCH at $223.


Weekly derivatives summary analysis

Here’s a quick preview of the main events that have occurred on the cryptocurrency derivatives market.

First off, the crypto derivatives aggregated volume has faced quite a high value drop, from $60.38B last week, to $19.51B. Volume drops of this kind are common every once in a while, as most on-going derivative contracts have expired, and new ones are actively being signed. However, the volume drop is also related to the recent cryptocurrency value decrease.

Here’s a brief look at trading volumes by derivatives category:

  • The options trading volume is estimated at $120.62M, dropping from $331M

  • The futures trading volume is estimated at $3.01B a 3x drop from $12.51B

  • The perpetuals trading volume is estimated at $16.37B, compared to $47.53B last week.


A quick look into the current open interest rates

At this point in time, the total aggregated open interest volume is situated at $6.89B, which is only a slight drop when considering the fact that last week’s OI was estimated at $7.14.  

From a category standpoint, perpetuals report an open interest of $6.89B, followed by $1.76B for futures, and $1.80B for options. Thus, we are witnessing a rare event, granted that futures OI is almost always higher than options OI.


Relevant cryptocurrency exchange derivatives data

  • The OKEx exchange has now been ranked as the world’s biggest derivatives exchange platform
  • BitMEX will soon launch its quanto futures catalogue for a series of coins, including Chainlink, Cardano, Tezos, and EOS
  • Bitfinex will integrate the bitcoin lightning network protocol within its derivatives exchange




Risk Disclaimer

This article includes information about cryptocurrencies, derivatives and other financial instruments. Both cryptocurrencies and derivatives are complex instruments and trading digital assets involve significant risk and can result in the loss of your invested capital. All data and information is provided “as is” for personal informational purposes only, and is not intended for trading purposes or advice. Please consult your broker or financial representative to verify pricing before executing any trade.