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

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  • Alex Dovbnya
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    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?
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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.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Ripple's Partner Wants to Transform Gaming Industry with XRP

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    Forte reveals the benefits of using Ripple's XRP for creating digital economies

Ripple's Partner Wants to Transform Gaming Industry with XRP
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San Francisco-based company Forte, which formed a $100 mln fund in partnership with Ripple's investment arm Xpring back in March, keeps working on applying the blockchain technology in gaming.

Recently, Forte co-founder Brett Seyler explained the benefits of using XRP.  

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Blockchain-based gaming economies  

Forte is helmed by top-tier industry executives (including its founding CEO Kevin Chou) who are not focused on creating new powerful economies within the $140 bln gaming while making it more decentralized. 

There have been multiple attempts at creating a killer gaming dApp, but the technology is still way too cumbersome for the average Joe. Forte wants to address the adoption problem by making such games more approachable.       

“Creating game economies with multi-sided participation, open markets and increased transparency offer a potent solution to the challenge of the complexity plaguing game developers that result in stagnant economy design,” said Seyler.  

Blockchain is a perfect tool for creating peer-to-peer gaming economies since it could make in-game transactions easy, fast, and transparent.       

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The impact of XRP  

In order to make the magic happen, Forte utilizes the Interledger protocol (ILP) that was created by former Ripple CTO Stephan Thomas for establishing connections between multiple blockchains. 

On top of that, the startup also uses XRP for increasing the level of interoperability as well as security and liquidity.  

Since its inception, Xpring invested more than $500 mln in around 20 companies to streamline the adoption of XRP.  

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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