WorldCoinIndex Derivatives Report 2020 – Week 30

Over the last 7 days, cryptocurrency prices managed to break their current price resistance, thus leading to a noticeable value increase. With this in mind, in the case of bitcoin, the cryptocurrency was trading at $9,151 on the 17th of July, while it is currently valued at $9,571. Throughout the week, BTC’s highest value was of $9,667, thus there is still room for considerable growth before reaching and hopefully surpassing the $10,000 threshold.

In the case of other cryptocurrencies, ETH is currently trading at $278, EOS at $2.61, XRP at $0.20, LTC at $44.57, and BCH at $236.67.


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 finally increased, following the sharp drop recorded last week. As such, the total volume for derivatives is estimated at $14.12B.

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

  • The options trading volume has increased from $96.21M to $212.54M;
  • The futures trading volume has increased from $2.09B to $3.62B;
  • The perpetuals trading volume has faced a significant increase, from last week’s mere $7.08B to $12.40B today.

Thus, the prediction that we made last week concerning a possible growth in trading volumes after the sharp drop has proven accurate.


A quick look into the current open interest rates

At press time, the total open interest for cryptocurrency derivatives is situated at $7.19B, higher than last week’s $6.22B. The OI for perpetuals is estimated at $3.57B, followed by $2.13B for futures, and $1.48B for options.


Relevant derivatives exchange data

From an exchange perspective, Huobi continues to hold the top position for perpetuals trading, with a $3.42B daily and 7-day volume of $17.56B.

The futures category is led by OKEX, with a $1.66B daily and 7-day volume of $8.69B.

Last but not least, Deribit is the leader in terms of options, with a $182M daily and 7-day volume of $456.52M.

Based on everything that has been highlighted so far, we can easily conclude that cryptocurrency price growths seem to be beneficial for the derivatives market, as investors are more likely to leverage these instruments when prices showcase positive volatility. A continuation in this digital currency price growth trend will surely bring increased popularity to the derivatives market as well.




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.