August's Bitcoin Rally Led to Record Crypto Derivatives Volumes: Report

Trading volumes for crypto derivatives rebounded to record levels as bitcoin's rally to $12,000 spurred on speculation, according to a newly released report.

CryptoCompare said crypto derivative volumes rose 54% to more than $710 billion in August in its monthly Exchange Review.
That's a new all-time high, with August's figures now far exceeding the $602 billion monthly volumes reported in May.
Spot markets also experienced a surge in activity, with August trading volumes coming to $820 billion – nearly $400 billion up from July's numbers.

Constantine Tsavliris, CryptoCompare's head of research, told CoinDesk that the surge in crypto derivative volumes was likely a result of last month's rally, which brought bitcoin from $9,200 to near $12,400 at its peak.
Spot price movement and volatility were higher in August than July, said Tsavliris.
As a rule, this generally leads to greater trading activity for cryptocurrencies and their derivatives.
Derivative volumes soared to then-record highs in May due to speculation surrounding the bitcoin halving event.
Volumes in March were also high, primarily as a result of the pandemic and the ensuing global sell-off in both crypto and traditional markets.
Derivative volumes in June and July were lower, at $445 billion and $393 billion respectively, when volatility was stuck in the doldrums.

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