DecentralandCrypto derivatives volumes surge to $3.12 trillion in July - CryptoCompare
Credit: IndiatimesIndiatimes
•10 days ago
The crypto market plunged in May and June as worries about high inflation and Federal Reserve interest rate hikes prompted investors to ditch risky assets. Following the collapse of a major pair of tokens,
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According to CryptoCompare's July 2020 Exchange Review, the combined spot and derivatives market saw record volumes, with derivatives volumes reaching $3.12 trillion in July. This marks a significant increase from the previous month's $2.35 trillion and is likely due to the continued growth of DeFi protocols and the emergence of yield farming in the crypto space.
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Frequently asked questions
How much did crypto derivatives volumes surge to in July?
Crypto derivatives volumes surged to $3.12 trillion in July.
What company reported the surge in crypto derivatives volumes?
CryptoCompare reported the surge in crypto derivatives volumes.
What was the percentage increase in crypto derivatives volumes in July compared to previous months?
The percentage increase in crypto derivatives volumes in July compared to previous months is not provided.
What type of financial instruments are crypto derivatives?
Crypto derivatives are financial instruments whose value is derived from underlying crypto assets such as Bitcoin or Ethereum.
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