The compiled data shows that the BTC futures market saw its lowest volume in December 2018.
The “Crypto winter” has the hit the crypto futures market as the trade volume across the market plummeted drastically in the second half of 2018.
As revealed by a Tradeblock report, the total Bitcoin futures trading volume across Chicago Mercantile Exchange (CME) and Chicago Board Options Exchange (CBOE) has declined and reached near parity with spot trading volume of five US-based crypto exchanges - Coinbase, Itbit, Kraken, Bitstamp, and Gemini.
Both CME and CBOE launched the Bitcoin futures instrument in December 2017 which boosted the value of Bitcoin to touch its peak. However, within a month, the spot market started to correct itself with a year-long bearish run and has lost 70 percent of its volume compared to mid-January 2018 numbers.
Tradeblock’s analysis shows that the futures market reached its peak in July and August 2018, however, the market took a downturn since then.
CME Captured the Market
Moreover, among the two competitors, CBOE has lost significant market share to its rival CME as the later continued to dominate the market within a couple of months after the launch of the instrument. Tradeblock, however, did not explain the reason behind CME's market dominance.
Fueled by the exit of the retail traders, the Bitcoin spot trading market took a downturn since January 2018. However, Bitcoin futures trading activity rose between December 2017 and August 2018. But the bullish run could not continue as in the next consecutive months BTC futures market saw a massive downturn.
Tradeblock pointed out that December 2018 registered the lowest monthly trading activity in BTC futures since the inception of the investment products.
“These findings highlight that futures trading activity has declined significantly since reaching a peak in the Summer of 2018. Spot trading activity, similarly, has declined considerably,” Tradeblock noted.
Despite the slowdown in the BTC futures market, major players like Bakkt, Nasdaq, ErisX, and CoinFLEX are planning to enter the market in 2019.
“It will be interesting to see how these trends change, as the market prepares to launch several new bitcoin futures platforms,” Tradeblock added.
The “Crypto winter” has the hit the crypto futures market as the trade volume across the market plummeted drastically in the second half of 2018.
As revealed by a Tradeblock report, the total Bitcoin futures trading volume across Chicago Mercantile Exchange (CME) and Chicago Board Options Exchange (CBOE) has declined and reached near parity with spot trading volume of five US-based crypto exchanges - Coinbase, Itbit, Kraken, Bitstamp, and Gemini.
Both CME and CBOE launched the Bitcoin futures instrument in December 2017 which boosted the value of Bitcoin to touch its peak. However, within a month, the spot market started to correct itself with a year-long bearish run and has lost 70 percent of its volume compared to mid-January 2018 numbers.
Tradeblock’s analysis shows that the futures market reached its peak in July and August 2018, however, the market took a downturn since then.
CME Captured the Market
Moreover, among the two competitors, CBOE has lost significant market share to its rival CME as the later continued to dominate the market within a couple of months after the launch of the instrument. Tradeblock, however, did not explain the reason behind CME's market dominance.
Fueled by the exit of the retail traders, the Bitcoin spot trading market took a downturn since January 2018. However, Bitcoin futures trading activity rose between December 2017 and August 2018. But the bullish run could not continue as in the next consecutive months BTC futures market saw a massive downturn.
Tradeblock pointed out that December 2018 registered the lowest monthly trading activity in BTC futures since the inception of the investment products.
“These findings highlight that futures trading activity has declined significantly since reaching a peak in the Summer of 2018. Spot trading activity, similarly, has declined considerably,” Tradeblock noted.
Despite the slowdown in the BTC futures market, major players like Bakkt, Nasdaq, ErisX, and CoinFLEX are planning to enter the market in 2019.
“It will be interesting to see how these trends change, as the market prepares to launch several new bitcoin futures platforms,” Tradeblock added.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
‘Bitcoin Jesus’ Arrested in Spain for Evading $48 Million in US Taxes
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
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20-22 MAY 2024
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Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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