Cryptocurrency derivatives trading activity surged to a six-month peak in July, spearheaded by market leader Binance which processed $2.55 trillion in volume. The exchange solidified its dominant position by capturing over 50% of the global derivatives market during this period.
Bybit and OKX followed with significant contributions, recording $929 billion and $1.09 trillion in trading volumes respectively. Bitcoin futures open interest remained notably elevated at approximately $79 billion, signaling persistent market volatility expectations among traders.
Binance showcased exceptional liquidity retention with 568 supported trading pairs, hitting a daily volume pinnacle of $134 billion on July 18. The collective derivatives expansion points toward heightened market participation and suggests potential price turbulence across digital assets in the near term.