Binance Was the Only Platform to See Derivatives Volumes Grow in April
Data from this month’s CryptoCompare Exchange Review shows that crypto exchange Binance was the only trading platform in the space to see its derivatives trading volumes grow last month, up 11.6% to a total of $108 billion.
Other major trading platforms offering derivatives to their users saw their volumes drop, with that of BitMex going down nearly 40% to $69.3 billion. The drop saw Binance surpass BitMEX in terms of volume in April.Although Binance was the only trading platform to see its derivatives volumes grow, Huobi was the largest derivatives exchange last month, trading a total of $133 billion throughout it. Its volume, nevertheless, dropped 10.5% since March.
The runner-up was OKEx, which traded a total of $113 billion last month, despite enduring a 31.4% drop compared to the month of March. On April 30, the day the price of bitcoin dropped below the $9,000 mark, Binance represented the majority of the BTC/USDT market’s trading volume, trading a total of $15 million at 11 am BST.
