Cryptocurrency Derivative Volumes Rise amidst Coin Price Volatility

WorldCoinIndex Derivatives Report 2020 Week 39 - During the 39th week of this year, the cryptocurrency market has once again faced a medium level of volatility. Last week’s price ascension trend was cut short by an abrupt decline in the case of bitcoin and other digital currencies.

With this in mind, the bitcoin price saw a high $11.167 early this week, followed by a low of $10,188. Following this sharp drop, a new price uptrend has begun. It is believes that bitcoin’s goal is to consolidate around the $11,000 mark, before another push is attempted.

At press time, BTC is trading at $10,650, ETH at $351, XRP at $0.236, LTC at $46.23, EOS at $2.52, Uniswap at $5.11, and Chainlink at $9.78.

The total cryptocurrency market cap is currently reported at $335.6 billion.

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 begun an uptrend following the low numbers recorded last week. With this in mind, the total aggregated volume is reported at $24.31B, on the rise when compared to last week’s $18.44B.

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

  • The perpetuals trading volume has increased to $18.96B from $14.98B

  • The futures trading volume has increased to $5.12B from $3.33B

  • The options trading volume has almost doubled from $124.45M to $223.11M.

Higher levels are certainly attainable, especially when considering the historical volumes. However, increased economic outputs worldwide may be required for the time-being, as low volumes are still prevalent due to Covid-19.  Furthermore, recent developments within the cryptocurrency derivatives market, such as the upcoming contract expirations, may affect digital currency prices over the next week.

Relevant cryptocurrency derivatives news

  • US bill may lead to standardized national regulatory framework for cryptocurrency exchanges
  • The Deribit exchange contributed to 75% of  high $2.03 billion open interest in options.
  • Approximately 90,000 bitcoin options expired today.




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.