In July, amid global monetary market instability, the Chicago Mercantile Exchange (CME), one of the world’s largest and most diverse derivatives markets, witnessed a significant recovery in bitcoin options buying and selling volumes.
The significant improvement was the first following a four-month period of stagnation. According to data provided by renowned knowledge monitoring platform CCData, trading activity related with cryptocurrency options trading increased by 24% to a remarkable $940 million.
This increase in purchasing and selling volume has been observed across a variety of digital properties. For example, bitcoin options volume increased 16.6 percent to $734 million, suggesting market participants’ growing interest in the digital currency.
At the same time, Ethereum, another major participant in the cryptocurrency market, has had a relatively high growth rate in options volumes. This figure increased by 60% to a total of $207 million.
Futures volume, in particular, plummeted 17.6% to $39.1 billion. The drop also had an impact on total derivatives buying and selling volume, which includes futures and options. According to CCData, the figure dropped 17.0% to $40.1 billion.
According to CCData, the increase in CME’s Bitcoin options buying and selling quantities could be a purposeful move by institutional traders.