CME Group's Cryptocurrency Derivatives Market Posted a Steep Increase in Trading Activity in April

CME Group’s cryptocurrency derivatives market posted a steep increase in trading activity in April, reaching a new average daily volume (ADV) of 183,000 contracts

CME Group, a major financial market, has reported a significant increase in cryptocurrency derivatives trading activity in April. The average daily volume (ADV) reached 183,000 contracts, valued at $8.9 billion in notional terms. This marks a 129% year-over-year increase.

The institution's report highlights a steep interest in ether, with the ether futures ADV soaring 239% to 14,000 contracts. In addition, micro ether futures experienced a 165% climb to 63,000, and micro bitcoin futures saw a 115% surge to 78,000 contracts.

The CME's bitcoin and ether futures contracts have a larger notional value, at 5 BTC and 50 ETH, respectively. Conversely, micro contracts, such as micro bitcoin futures and micro ether futures, facilitate more precise trading, with each contract representing 0.1 of each cryptocurrency.

Earlier this year, CME Group announced record cryptocurrency derivatives volumes in the first quarter. The overall ADV for April reached a record 35.9 million contracts, showcasing a 36% year-over-year increase.

In other cryptocurrency news, ether experienced a slight rise of 1.1% over the past 30 days, while bitcoin's price increased by 15.8%. The broader crypto market, as measured by the CoinDesk 20 (CD20) index, displayed a gain of 12.1%.