Bloomberg: Bitcoin derivatives trading volume surged, 10-18 times the spot trading volume

Bloomberg said today that as bitcoin price volatility declines, it is becoming boring for people eager to get rich quickly. At the same time, however, Bitcoin derivatives trading showed explosive growth. According to estimates by Skew and, the daily trading volume of Bitcoin derivatives is $5 billion to $10 billion, which is 10-18 times the amount of bitcoin spot trading. Although it is difficult to derive the exact figures for the two transactions from major transactions, the volume of transactions between the two transactions was basically flat at the beginning of the year. Emmanuel Goh, CEO of Skew and former derivatives trader at JPMorgan Chase, said: “So far, the main use cases around this product (bitcoin derivatives trading) have been speculative activities. Investors need to understand the potential risks. The contract is a zero-sum game, and the money earned by one person is the loss of another person.” TokenAnalyst co-founder Sid Shekhar said: “This is the area of ​​making money with cryptocurrency, the largest 'casino' ever. BitMex is currently It may be the center of the entire ecosystem. It earns at least $700,000 in commissions per day from derivatives transactions."