Crypto Derivatives Market Share Hits All-Time High

Crypto Derivatives Market Share Hits All-Time High

• Cryptocurrency derivatives trading volume on centralized exchanges dropped in April, pushing the derivatives market share up to a record 77.6%.
• Binance is the largest derivatives trading platform, accounting for 61.4% of the market, followed by OKX and ByBit with 15% and 14.6% market shares respectively.
• In May, Coinbase launched a derivatives platform and Gemini announced it will be starting one as well, moves that seem likely to further increase the market share of crypto derivatives markets.


The crypto derivative markets have seen an all-time high in their market share during April 2021. Despite an overall decrease in absolute volume of crypto derivative trading, spot trading saw a significant 40.2% drop which has pushed the total market share for crypto derivatives up to 77.6%. Binance remains the largest player accounting for 61.4%, followed by OKX with 15% and ByBit with 14.6%. The launch of new platforms like Coinbase and Gemini’s new derivative platforms may further increase its popularity in future months.

Binance Dominance

Binance continues to be the dominant player in crypto derivative markets having accounted for 61.4% of total volume traded in April 2021 despite an overall 23.3% decrease in crypto derivative trading volume compared to March 2021 figures according to CCData’s research findings. Following behind are OKX (15%) and ByBit (14%).

Impact of Rate Hike Pause

The increasing popularity of Crypto Derivative Markets could be partly attributed to uncertainties around rate hikes being paused by Federal Reserve suggested CCData highlighting how this could lead investors towards more speculative investments amidst these uncertain times thus resulting in higher demand for Crypto Derivatives as opposed to Spot Trading which witnessed a 40.2 % decrease as opposed to Derivatives which only decreased by 23 % suggesting investors preference towards Derivatives over Spot Trading options currently due to aforementioned reasons or other factors such as ease of use or liquidity levels provided by each segment etc .

New Platform Launches Could Further Increase Popularity

In May 2021 , two major players namely Coinbase & Gemini announced respective launches i-e Coinbase launched its own Derivative platform while Gemini announced upcoming launch showcasing how these big players are now entering this space leading us into believing that this could further push up popularity & usage rates of Crypto Derivative Markets going forward .