CME Crypto Trading Volume Slumped to Two-Year Low in December

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Total $CME crypto derivatives volume plunged almost 50% to $14.2 billion in the last month of 2022, the weakest since October 2020. LedesmaLyllah reports

Derivatives giant Chicago Mercantile Exchange’s crypto-related trading volumes suffered a steep falloff in the last month of 2022., the weakest since October 2020. Bitcoin futures volume was down 48.3% to $13.2 billion, with ether futures volume off 55.3% to $481 million.The slump was inline with spot trading volumes across the industry, according to the report, which fell 48.4% to $544 billion, the lowest figure since December 2019.

“[The fall] coincides with the loss of users’ trust in centralized exchanges following the collapse of FTX in November,” wrote the report authors, “leading investors to take a cautious stance amid concerns over further contagion.” Also at issue was a startling lack of volatility, with bitcoin essentially flatlining during most of the month in the mid-$16,000 area.

 

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