Volume of cryptocurrency derivatives broke record in may. Crypto money appetite of institutional investors is growing.
Although there is no significant change in price after Bitcoin ‘s block reward splitting, the interest in crypto derivative products certainly shows the expected performance and set a record. It was seen that the volume of derivative product broke the all-time record after Bitcoin experienced block reward halving.
According to the research prepared by London-based data company CryptoCompare , the volume of crypto money derivatives increased 32% in May to $ 602 billion. This went down in history as an all-time record, breaking the $ 600 billion monthly record previously broken in March.
Looking at the monthly volume of derivatives, it is seen that there has been a regular volume increase since January, but this has fallen sharply in April. The main reason for this is known as the global decline experienced on 12 March and the Bitcoin down to $ 3,700. However, after this development, the recovery of the leading cryptocurrency and exceeding $ 10,000 in May has whipped corporate interest again.
It is known that the institutional investor has a huge impact especially on the long-term Bitcoin price. If the volume of derivative products continues to increase in this way, altcoins such as Ethereum, which are listed not only in Bitcoin but also in exchanges such as Deribit, can achieve record increases.