Trading Bitcoin futures is often a solid way to make good money, depending on overall market movements. Several platforms are trying to compete for traction, with Huobi generating the most volume. It is evident that more competition will always be beneficial.
Huobi Dominates the Pack
Looking at the overall futures trading volume, it will be relatively difficult for any platform to catch up to Huobi. With roughly 350,000 BTC in daily trading volume, this platform offers what traders are looking for. Sustaining this high level has not been difficult for the company, but the competition is heating up.
Whereas most people know Binance as a cryptocurrency trading platform, there are many other markets worth exploring. One of those other markets is its futures market, which generates almost the same volume as Huobi. A 20,000 BTC difference separates both platforms, albeit these rankings can easily flip around.
It has been an interesting month for BitMEX. After announcing how the platform will enforce user verification by the end of the month, it seems as if its futures volume has dropped off slightly as well. Although 210,000 BTC in daily volume is not bad by any means, the company used to dominate the landscape for some time. That situation has now come to change, which isn’t necessarily a bad thing.
Japanese cryptocurrency enthusiasts also show a keen interest in Bitcoin futures trading. A positive sign for the industry, although futures trading is often associated with the Western world. Bitflyer users generate a daily volume of over 130,000 BTC, making it a rather competitive platform.
The last platform on this list also generates a lot less volume compared to the first four. Deribit, while a well-known name in the crypto industry, has yet to captivate the hearts of most Bitcoin futures traders. Achieving a daily volume of just under 35,000 BTC is not bad, but competing platforms – FTX, Kraken, Bitfinex, and PrimeXBT – are not resting on their laurels either.
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