Daily trade volume for Bitcoin futures contracts has dropped to a new year-to-date low. However, open interest in both BTC and Ether futures are rallying into record highs.
76% of futures trading took place on OKEx, Huobi, and Binance — representing $1.4 billion, $1.3 billion, and $1.1 billion in volume, according to data published by market analysis firm Skew.
BTC futures daily volumes: Skew
The slump in activity has seen volume drop by approximately half for two consecutive days.
Bitcoin open interest rallies strong
While Bitcoin futures activity has slumped, open interest has recently reclaimed its levels prior to the violent Black Thursday crash during mid-March — testing $4 billion for the first time in three months.
Meanwhile, open interest in BTC options has broken into new highs, breaching $1.5 billion just one month after tagging ten-figures for the first time.
BTC options open interest: Skew
The record highs have been bolstered by a 3,000% spike in open interest on Chicago Mercantile Exchange during May.
BTC options open interest on CME: Arcane Research
Ethereum open interest moons
Open interest in Ether (ETH) options on leading market Derebit have continued to rally into record highs.
In recent days, ETH open interest on Derebit broke above $150 million for the first time, roughly double that of the previous all-time high that was broken only one month ago.
ETH open interest on Derebit: Derebit