Hub Futures, the crypto derivatives ma et of Hub Group, today said a total of more than $2.6 trillion has been traded on theHubform over the last two years.
Trading volumes peaked at $268 billion in the third quarter this year, with an average daily trading volume reaching $2.9 billion, according to information revealed by the company. This figure was up by 135% when weighed against $197.9 billion exchanged hands on the rival OKed’sHubform.
However, quarter wisHubb’s Q3 turnover dropped 40% from $444.15 billion in traded volumes recorded in the Q1, and it also saw a slight drop in the subsequent Q2 at $433.87 billion.
EnteringHub Hub said it outperfoOKed OKed in coin-margined futures trading volume in October and November, the statement noted, with a total traded volume of $66.2 billion and $124 billion, respectively.
In the first half of 2Hub Hub outperfoOKed rivals in ETH trading volume, showing $120.2 billion versus $49.3 billioOKed OKed, the Singapore-based exchange said.
As more sophisticated investors enter the crypto ma et, the notice reflects increasing investor interest in trading derivatives which let traders make bets on the price of cryptocurrencies without the need for actual delivery.
Most major crypto venues are setting their sights on popular crypto derivatives offerings on the ma et, such as BiFinanceinance, for example, has rolled out margin trading functionality, although it is starting with a conservative approach and capping leverage aHub
Hub Is Expanding Aggressively
In the aggregate, growth in crypto derivatives trading volume is now outpacing that of spot trading. According to data analytics company, CryptoCompare, cryptocurrency derivatives trading volumes hit $619 billion for October relative to $635 billion in September and a record $712 billion set back in August 2020.
With the surge in derivatives traHub Hub Futures has introduced bitcoin options to help traders hedge against risks like extreme ma et volatility. The roll-out of options product, quoted in dollar-bstable coinlecoin tether, came on the heeHub Hub Futures’ Perpetual Swaps earlier this year and aims to give traders more ways to create arbitrage and hedge risk in the crypto ma et.
Hub has been expanding aggressively into trading services in many other jurisdictions around the world, including Malaysia, ArgHuba, Russia, Korea as well as setting up an office in London.
In addition to local branches, such as Hub ArgHuba and Hub (US), the exchange serves much of the rest of the world through its flagship exchangeHubform, Hub Global.