Crypto derivatives volumes surge to $3.12 trillion in July: Crypto Compare

Cryptocurrency derivatives trading on centralised exchanges rose to $3.12 trillion in July, a 13% monthly increase, researcher CryptoCompare said on Thursday, as crypto prices show signs of recovery from the recent market crash.

The derivatives market now makes up 69% of total crypto volumes, up from 66% in June, and helped push overall crypto volumes on exchanges to $4.51 trillion in July, CryptoCompare said.

Derivatives exchanges traded as much as $245 billion on July 29, 9.7% more than June’s top daily high of $223 billion. But spot cryptocurrency trading edged lower to $1.39 trillion in July, a 1.3% monthly decline and the lowest since December 2020, CryptoCompare said.