CME Bitcoin Futures Trading Volumes Keep Surging in May. What Drives Institutional Demand?

  • Alex Dovbnya
    📊‍ Infographics

    May is well-positioned to become the most successful month for CME Bitcoin futures


CME Bitcoin Futures Trading Volumes Keep Surging in May. What Drives Institutional Demand?
Contents

Bitcoin futures issued by the Chicago-based CME have already attained a new high this May with the total trading volume reaching $6.6 bln, the latest Diar report shows. That vividly shows that institutional investors are getting keen on crypto.

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Institutional Interest in Bitcoin Continues to Grow: Report

Institutional Interest in Bitcoin Continues to Grow: Report

Record-breaking numbers  

Undoubtedly, there is a clear connection between the market sentiment and CME trading volumes. This correlation became apparent at the beginning of April when the number of traded future contracts started increasing in sync with the BTC price.  

As reported, CME’s next-door rival CBOE had to put the brakes on its Bitcoin futures due to its dwindling trading volumes.   

Deribit, the Dutch BTC futures and options trading platform, also witnessed stellar growth back in April and March.

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The new gold

The gradually growing institutional interest is a surefire sign that the cryptocurrency market is maturing. Bitcoin is now branded as the ‘digital gold’ (case in point: the recent ‘Drop Gold’ campaign that was initiated by Grayscale. Notably, Bitcoin futures recorded their highest comparison to gold futures in May.

As Diar points out, the Bitcoin market is becoming more ‘synthetic’ as spot exchanges see declining volumes.

Cover image via u.today
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About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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Biggest Cryptocurrency Ecosystems: Ethereum, Omni, Tron, and More

  • Alex Dovbnya
    📊‍ Infographics

    Ethereum is two times larger than all other ecosystems combined, but Omni boasts the biggest top project  


Biggest Cryptocurrency Ecosystems: Ethereum, Omni, Tron, and More
Contents

In its latest study, cryptocurrency research firm DataLight examines the biggest cryptocurrency ecosystems. Ethereum, which boasts an eye-popping $12.2 bln ecosystem is in a clear lead with 1,193 projects under its belt.

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The two biggest ecosystem

Top put this into perspective, Maker, the most successful Ethereum-based cryptocurrency,  alone has a market capitalization of $736.5 mln, which is higher than eight out of ten ecosystems on the list. The same is true for BAT and Crypto.com Chain – both of these projects are on the CoinMarketCap top 30 list.

Omni Layer is a meta-protocol that is built atop of Bitcoin. While the ecosystem has six projects, USDT Tether, the flagship stablecoin, is almost fully responsible for its $3.2 bln market cap. Omni (OMNI) is worth slightly more than $1.2 mln.

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Tron, NEO, and more

Similarly to Omni, the Tron ecosystem is also a one-coin band. BitTorrent, the native token of the legendary P2P file sharing protocol of the same name, has a market cap of $350 mln. This alone makes Tron the third largest ecosystem.

NEO, Stellar, and NEM are also among the top five biggest ecosystems. Notably, EOS, the sixth biggest cryptocurrency, has a rather tiny ecosystem with Everipedia, the Blockchain-based encyclopedia, being the only notable project that operates on its platform.

Cover image via u.today
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About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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