Spot trading volumes on both top tier and lower tier crypto exchanges plummeted in June to USD 177bn (-36%) and USD 466bn (-53%) respectively, said the latest report by CryptoCompare, a provider of the crypto market data. Crypto derivatives volumes dropped 36% to the 2020 lowest monthly volume of USD 393bn, while total spot volumes dropped 49% to USD 643bn. Thus, derivatives represented 37% of the market in June. Chicago Mercantile Exchange (CME) total options volumes reached another all-time monthly high of 8,444 contracts traded up 41% since May. But CME futures volumes decreased since May by 23% to 128,258 in June. Among the top 15 top tier exchanges, Binance and OKEx represent approximately 3/4 of spot volume. Binance traded USD 42bn (-20%), OKEx USD 41bn (-29%), and Coinbase almost USD 7bn (-38.5%).
The UK’s Financial Conduct Authority (FCA) has granted a London-based subsidiary of Kraken, Crypto Facilities, aka Kraken Futures, a Multilateral Trading Facility (MTF) license. The exchange claims that Crypto Facilities is the first and only licensed derivatives platform offering exposure to leveraged cryptocurrencies in the European Union. The license will allow institutional clients who would be prohibited from trading on unlicensed exchanges to trade on the futures platform.
OKEx has integrated Flipside Crypto's Fundamental Crypto Asset Score (FCAS) feature directly on its platform, said the emailed press release. This will allow traders to look into a crypto asset's rating, score, rank and fundamental health, and compare it to other crypto assets.
Bitfinex said has launched paper trading, a demo account service that enables users to practice strategies and trade bitcoin (BTC) in a simulated market environment without putting funds at risk in a live account.
Maximilian von Wallenberg has become a member of the Management Board of Boerse Stuttgart Digital Exchange GmbH. He is a fintech expert and serial tech entrepreneur, and he was responsible for an AI-based asset manager for cryptocurrencies as Chief Product Officer, among other accomplishments, the company said.