The combined value of cash and derivatives trading volumes on centralized exchanges (CEX) jumped 14.2% for the first time in three months, reaching $2.71 trillion in June. The uptrend came amid a fresh wave of demand for Bitcoin (BTC) exchange-traded funds (ETFs) from institutional investors.
The latest interest follows a bid from BlackRock, the world’s largest asset manager, in mid-June. The increase in volatility following the US Securities and Exchange (SEC) crackdown on Binance and Coinbase also pushed volumes higher, according to the last report by digital asset data provider CCData.
Giving a breakdown of the numbers, CCData noted that spot trading volume over the past month jumped 16.4% to $575 billion, with derivatives volume hitting $2.12 trillion, an increase. by 13.7%.
Additionally, the Chicago Mercantile Exchange (CME), the world’s largest derivatives market, saw the total volume of derivatives traded on its platform increase by 23.6% to $48.3 billion. CCData pointed out that institutional investors have particularly flocked to BTC futures, with transactions in the derivative contract rising 28.6% to $37.9 billion, the highest volume traded on CME since November. 2021.
However, despite last month’s positive outflow, spot trading volumes on CEX remain at “historic lows”, with the value hitting a level not seen since the fourth quarter of 2019. Similarly, market share derivatives traded on the CEX fell for the first time in four months. The market fell to 78.7% last month, down from a peak of 79.1% reached earlier in May.
Source: CCData
“Binance remains the largest crypto derivatives trading venue, registering $1.21 trillion in volumes,” CCData noted. “However, the stock market’s market share declined for the fourth consecutive month, falling to 56.8% in June, its lowest market share since October 2022.”
On the contrary, OKX, the second-largest digital asset derivatives trading platform, saw its trading volumes soar 44.9% to $416 billion last month, CCData noted. The exchange now manages 19.5% of derivatives traded on the CEX, which is its highest market share since April last year.
A court penalizes Coinseed and its founder
In a separate development, a New York judge yesterday (Wednesday) ordered crypto trading platform Coinseed and its former CEO, Delgerdalai Davaasambuu, to pay around $424,000 in civil fines, illicit profits and interest payments.
The SEC, which sued Coinseed in 2021 for its alleged unregistered sale of “CSD” tokens between 2017 and 2018, obtained the order from Judge Paul G. Gardephe of the Court for the Southern District of New York. The federal securities regulator, in its lawsuit, had accused Coinseed and two of its top executives of defrauding victims of approximately $1 million.
In September 2021, New York prosecutors obtained a court order to shut down Coinseed’s operations. They also obtained a $3 million monetary judgment against the company and its founder.
New LiteFinance office; TAIFEX on TradingView; read today’s nuggets.
The combined value of cash and derivatives trading volumes on centralized exchanges (CEX) jumped 14.2% for the first time in three months, reaching $2.71 trillion in June. The uptrend came amid a fresh wave of demand for Bitcoin (BTC) exchange-traded funds (ETFs) from institutional investors.
The latest interest follows a bid from BlackRock, the world’s largest asset manager, in mid-June. The increase in volatility following the US Securities and Exchange (SEC) crackdown on Binance and Coinbase also pushed volumes higher, according to the last report by digital asset data provider CCData.
Giving a breakdown of the numbers, CCData noted that spot trading volume over the past month jumped 16.4% to $575 billion, with derivatives volume hitting $2.12 trillion, an increase. by 13.7%.
Additionally, the Chicago Mercantile Exchange (CME), the world’s largest derivatives market, saw the total volume of derivatives traded on its platform increase by 23.6% to $48.3 billion. CCData pointed out that institutional investors have particularly flocked to BTC futures, with transactions in the derivative contract rising 28.6% to $37.9 billion, the highest volume traded on CME since November. 2021.
However, despite last month’s positive outflow, spot trading volumes on CEX remain at “historic lows”, with the value hitting a level not seen since the fourth quarter of 2019. Similarly, market share derivatives traded on the CEX fell for the first time in four months. The market fell to 78.7% last month, down from a peak of 79.1% reached earlier in May.
Source: CCData
“Binance remains the largest crypto derivatives trading venue, registering $1.21 trillion in volumes,” CCData noted. “However, the stock market’s market share declined for the fourth consecutive month, falling to 56.8% in June, its lowest market share since October 2022.”
On the contrary, OKX, the second-largest digital asset derivatives trading platform, saw its trading volumes soar 44.9% to $416 billion last month, CCData noted. The exchange now manages 19.5% of derivatives traded on the CEX, which is its highest market share since April last year.
A court penalizes Coinseed and its founder
In a separate development, a New York judge yesterday (Wednesday) ordered crypto trading platform Coinseed and its former CEO, Delgerdalai Davaasambuu, to pay around $424,000 in civil fines, illicit profits and interest payments.
The SEC, which sued Coinseed in 2021 for its alleged unregistered sale of “CSD” tokens between 2017 and 2018, obtained the order from Judge Paul G. Gardephe of the Court for the Southern District of New York. The federal securities regulator, in its lawsuit, had accused Coinseed and two of its top executives of defrauding victims of approximately $1 million.
In September 2021, New York prosecutors obtained a court order to shut down Coinseed’s operations. They also obtained a $3 million monetary judgment against the company and its founder.
New LiteFinance office; TAIFEX on TradingView; read today’s nuggets.
