A new report says that the Chicago Mercantile Exchange (CME) has seen its Bitcoin options contract trading volume going high in the month of September 2020. CME saw the trading of around 4,872 Bitcoin options contracts the previous month. This figure is more than that of the month of August in which 2,717 Bitcoin options contracts were traded on the platform of CME.
CME witnessed an increase of 79.3% in BTC options trading volume
According to the September 2020 Exchange Review of CryptoCompare, the Chicago Mercantile Exchange has witnessed a significant increase of around 79.3 percent in its Bitcoin options trading volumes in September. While on the other hand, Bitcoin (BTC) futures contract trading volume relatively showed a steady movement in the last month. Comparatively, in August, a total of 203,867 bitcoin futures contracts were traded on CME’s trading platform while on the other hand, this figure moved down to 201,893 in September.
This surge in CME’s Bitcoin (BTC) options contracts trading volume has occurred in the same month in which the price value of the leading digital currency Bitcoin has been trading stable in the $10k – $11k zone. However, now Bitcoin has managed to come out of this zone and has successfully broken above $11,000. Currently, it is trading up by over 2% in 24 hours.
Binance was the largest derivatives exchange in September
Furthermore, the report revealed that the top digital currency exchange in the world Binance was the largest cryptocurrency derivatives exchange in terms of trading volume in the previous month. As per the report, Changpeng Zhao (CZ)’s Binance saw its monthly derivatives trading volume hitting $164.8 billion in September. While on the other hand, the monthly derivative trading volume of the Huobi cryptocurrency exchange reached $156.3 billion and was the second-top exchange in September by trading volume. OKEx and BitMEX’s trading volume was $155.7 billion and $56.4 billion respectively.
However, despite this surge, the derivative trading volume of these exchanges was low in September when compared to the month of August.