February was another bullish month for crypto with Bitcoin topping $58,000, and spot volumes surpassing January by 17.2%. CME's new ETH futures reached $1bn in trading volumes since the February 9th launch, while derivatives open interest across all products surged.
Below are some of the key highlights from our February Exchange Review.
Newly Launched CME ETH Futures Reach $1bn Trading Volume in the First Month
CME’s new ETH futures reached a total of $1bn in trading volume since its February 9th launch. Meanwhile, CME’s BTC futures volumes increased by 16.9% to $58.6bn. On aggregate (ETH + BTC futures), volumes reached $59.6bn.
CME’s average open interest figures for BTC futures increased by 23% to $2.5bn in February and ETH open interest averaged $61.2mn.
Aggregate Derivatives Volumes Remain Steady while Open Interest Jumps
Derivatives volumes decreased by 0.3% in February to $2.89tn. Meanwhile, total spot volumes increased by 17.2% to $2.74tn. The derivatives market now represents 51.3% of the total crypto market (vs 55.3% in January).
Binance was the largest derivatives exchange in February by monthly trading volume with $1.06tn (up 19.3% since January) followed by OKEx ($525bn, down 9.8%), Huobi ($399bn, down 20.1%) and Bybit ($345bn, up 8.4%).
In February, Binance had the highest open interest across all derivatives products on average at $7.3bn (up 180.4% since January). This was followed by OKEx ($6.4bn, up 155.8%) and Huobi ($5.1bn, up 197.0%).
|
February Exchange News
Kraken
Kraken Brings Spot Prices to DeFi with New Chainlink Node
Gemini
Earn Interest on Your Crypto with Gemini Earn
OKEx
OKEx To Integrate the Bitcoin Lightning Network, Enabling Cheaper and Faster Transactions for Users
Binance
Binance Labs Leads $2.4 Million Investment Round for Plasm Network
Kraken
Kraken Security Labs Finds Flaws in Safepal S1 Hardware Wallet
OKCoin
Protecting Bitcoin — Why We’re Removing BCH and BSV From OKCoin
Coinbase
Coinbase Announces Filing of Registration Statement for Proposed Public Direct Listing of Its Class A Common Stock
Read more news in our Exchange Review.
