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  • Binance Futures was the largest derivatives exchange by trading volume in September, while BitMEX volume crashed 30%. Bitcoin options trading on CME has also climbed in popularity.

    Although the cryptocurrency spot and derivatives trading volume fell on most platforms last month, Binance has taken the lead as the largest derivatives exchange, a new report revealed.

    At the same time, the regulated Chicago Mercantile Exchange (CME) faced steady Bitcoin futures performance, while the options trading surged.

    Binance Takes The Top Spot For Derivatives Trading

    The data analytics company CryptoCompare which observes the performance of the most popular digital asset exchanges on a monthly basis reported that the trading activity among all platforms in September, regardless of spot or derivatives, declined substantially in comparison to August.

    The derivatives and spot volume decreased by 17.5% to $635 billion and $676.6 billion, respectively. Despite being lower than August, it is newsworthy that these numbers were higher than the two previous months – June and July.

    However, the derivatives volume drop on Binance was among the lowest (-10.7%). Other popular names such as Huobi (-26%), OKEx (-18.5%), and BitMEX (-30.7%) marked more substantial decreases. So Binance Futures, with its $165 billion trading volume, became the “largest derivatives exchange by volume” last month.

    Binance Futures’ growth was exemplified in mid-September when the exchange announced reaching $1 trillion in trading volume since the start of 2020.

    FTX was the only derivatives exchange that faced an increase in the trading volume of 12%.

    CME Bitcoin Options Trading Returns To High Ground

    The Bitcoin futures contracts traded on the Chicago Mercantile Exchange (CME) remained stable last month. The data from CryptoCompare showed that the interest has been rather positive in the past few months. Nevertheless, August remains the month with the highest trading volume, with 203,867

    The situation with the Bitcoins options contracts was quite different in September in comparison to August.

    “CME options contract volumes experienced an increase of 79.4% in September to 4,872 contracts traded (vs. 2715 in August).”

    The BTC options trading volumes on CME have been on a roller-coaster since the coronavirus pandemic broke out. It displayed little-to-no action in March and April but then increased in May and especially June. July and August were relatively slow months, but it rose once more in September, as CryptoCompare informed.

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