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29 May 2020
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CryptoCompare Data Reveals OKEx, BitMEX, Huobi, and Binance As The largest Derivatives Players

  • The CryptoCompare, a crypto data analysis platform has revealed the March Exchange Review that shows how cryptocurrency performed in March.
  • This includes how volumes bash a historical high on March 13th, how institutional interest has dropped, and many more.
  • The largest derivatives players include OKEx, BitMEX, Huobi, and Binance which altogether represent 86% of the derivatives market for March that is almost $514bn.
  • Due to the BTC crash, the Institutional choices for derivatives products seemed to be tumbled rapidly.

The CryptoCompare, a crypto data analysis platform has revealed the March Exchange Review that shows how cryptocurrency performed in March. This includes how volumes bash a historical high on March 13th, how institutional interest has dropped, and many more.

 

The volumes from the Top Tier exchanges were rising continuously

It was noted that a drastic market crash banged on March 12-13th proving $75.9bn volumes hit in a single day. This was notified as a greatest daily volume in the crypto history. A major figure emerged from lower-tier exchanges $54.3bn along with the volume from the Top Tier exchanges with a total of $21.6bn. This is one of the highest Top Tier volumes recorded ever in the crypto ecosystem.

The volumes from the Top Tier exchanges were rising continuously every month since December 2019. The volume was increased 35% on average from many of the largest in March 2020.

Looking towards the derivatives volumes it was $600bn in March. The largest derivatives players include OKEx, BitMEX, Huobi, and Binance which altogether represent 86% of the derivatives market for March that is almost $514bn.

The Trading Volumes Plummeted

The monthly volume of Binance and FTX uplifted to 27% and 94% that is respectively up to $95.8bn and $35.8bn in March. The duo initially together represented 14% market share in January which is now 22% approximately in March.

The trading volumes have plummeted to $7.36bn in March as compared to $13.1bn in February. Due to the BTC crash, the Institutional choices for derivatives products seemed to be tumbled rapidly.

According to the Exchange Review, the investors trading the top coin BTC for USDT attained triple hike in March due to the price of bitcoin gone through its biggest intraday loss in March dropping to $3,800.

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