Asian exchanges account for more than 95% of the futures volume in crypto, according to a new report by Switzerland-based Blockchain Valley Ventures (BVV).
Key findings from the report include:
- Huobi, Binance and OKEx have surpassed BitMEX as the leading exchanges in the spot and derivatives markets.
- From Q1 to Q2 in 2020, the total volume of crypto derivatives – the value tied up in bets on future price movements – increased by $60 billion to $2.16 trillion.
- Spot volumes decreased by 18% over the same time span, reaching $5.44 trillion.
- Because of how widely derivatives products vary among exchanges, BVV predicts there will be several acquisitions in the crypto exchange market in the next few months.
- BVV also predicts that the most likely acquisition targets are LedgerX, BitFlyer and ErisX; the firm ID’d Coinbase, Bitstamp, Huobi and Binance as the most likely acquirers.
- “Derivatives are the gateway for institutional investors,” BVV partner Sebastian Markowsky said in an interview. “The player that can enter the U.S. or European market in a regulated way is going to grab a lot of institutional capital.”
Read the full report below:
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