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  • CryptoCompare published monthly trends for the cryptocurrency industry.
  • Investors are interested in derivatives trading.

The global provider of digital assets data revealed the details of the cryptocurrency exchange market analysis in the recent November 2019 Exchange Review.

Charles Hayter, co-founder and CEO of CryptoCompare, commented:

“2019 has seen considerable focus across the digital asset industry on producing reliable data on the exchange-traded market, to tackle the problem of ‘fake’ volumes. CryptoCompare’s high quality, granular analysis, ranking the global exchanges, has brought greater transparency to the crypto asset class, enabling market participants to make better decisions.”

Among other things, the review analyzes exchanges’ trading volumes, fee types, list of available products including derivatives, supported fiat currencies and stablecoins.  

The November report revealed a transition of trading volume from top-tier (-6.9% exchanges to low tier exchanges (+3.7%). As a result, the top-tier exchanges now process only 31.4% of the total cryptocurrency market trading volumes.  

OKEx and Huobi are the most popular platforms for trading cryptocurrency-based derivatives. In November, the platforms registered a total volume of $91.5 billion and $89.52 billion, respectively. Meanwhile, regulated Bitcoin derivatives trading is still dominated by CME futures. The trading volume grew by 35.2% in November to $4.22 billion.

These results confirm the growing interest in cryptocurrency-related products. Investors are seeking solutions that would allow them to have exposure to digital assets without actually owning them. Also, cryptocurrency derivatives, such as Bitcoin futures allow betting on price decrease, thus capitalizing on both bullish and bearish trends.  

The market is on recovery tack ahead of Christmas

At the time of writing, Bitcoin and ma majority of top-20 altcoins are in a green zone as the market is extended the weekend recovery. The total capitalization of all digital assets in circulations increased to $199 billion, while an average daily trading volume registered at $83 billion. Bitcoin’s market dominance has jumped to $68.9%, which is the highest level since September.

BTC/USD is changing hands at $7,568, having gained 5.4% in recent 24 hours; ETH/USD hit $135.29 high before retreating to $133.00 by press time. The coin is 3% higher from this time on Sunday. XRP/USD is hovering below $0.20, with 1.5% of day-to-day gains.