RATE Group | Bitcoin Futures Prices Jumped During Third Quarter
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Bitcoin Futures Prices Jumped During Third Quarter

19 Oct Bitcoin Futures Prices Jumped During Third Quarter

Posted at 18:15h in Bitcoin News by

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The average daily trading volume for bitcoin futures jumped by 41% during the third quarter, according to the latest statistics from CME. Trading volume for bitcoin futures touched a high of 12,878 contracts worth approximately $530 million on a single day in July. The average daily volume of trading during the third quarter was equal to 5,053 contracts worth $177 million approximately.  

“With open interest and liquidity on the rise, more market participants worldwide are using BTC to manage risk in changing markets,” the exchange stated. Open interest in bitcoin futures rose by 19% as compared to the previous quarter and averaged 2800 contracts in the third quarter. The price of bitcoin futures during this period mirrored the cryptocurrency’s tepid show in trading markets and mostly declined. 

A Limited Effect On Cryptocurrency Ecosystem

The CME’s announcement is a mixed bag. On the one hand, a bump in trading volumes for bitcoin futures is good news because…

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