Bitcoin futures volume on CME and Bakkt fell sharply in March


Bitcoin futures volume on two regulated platforms - CME Group and Bakkt - fell sharply last month.

According to research conducted by The Block’s Larry Cermak, CME's daily average volume dropped by over 50% to $242 million in March, as compared to $493 million in February.

Bakkt’s daily average volume, on the other hand, fell by 38.7% in March from $26.94 million to $16.51 million in February.

Both the exchanges’ open interest, or the number of open futures contracts, also dropped month-on-month in March.

CME’s open interest fell to $127 million in March since reaching an all-time high of $338 million on February 14. Bakkt’s open interest, on the other hand, plunged to $4.6 million since reaching an all-time high of $19 million on February 14.

To read the full analysis and more such data-driven stories, subscribe to The Block Research.

Related Reading

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

Layer-1 Platforms: A Framework for Comparison

The Block Research was commissioned by Algorand to create Layer-1 Platforms: A Framework for comparison, which provides a “look under the hood” at seven platforms: Algorand, Avalanche, Binance Smart Chain, Cosmos, Ethereum/Ethereum 2.0, Polkadot, and Solana. We assess their technical design, related ecosystem data, and qualitative factors such as key ecosystem members to get an understanding of how they differ. Having done this analysis, we draw some insights for what the future of the broader smart contract landscape could look like for years to come. 
Read Full Story
Aug 11, 2021, 5:18PM UTC