BTC, ETH Futures Trading Volume and Open Interest Drop in August

BTC, ETH Futures Trading Volume and Open Interest Drop in August

BTC, ETH Futures Trading Volume and Open Interest Drop in August According to data from The Block Pro, both BTC and ETH futures trading volume and open interest saw declines in August. BTC futures trading volume decreased by 20.2% month-over-month, while ETH futures trading volume dropped by 22.2%. Open interest also decreased by 17.9% for BTC and 28.6% for ETH. Analysts attribute the decline to several factors, including decreased volatility in the underlying assets, the summer vacation period, and the recent regulatory measures in China. It is also possible that some traders have shifted their focus to other asset classes, such as altcoins or DeFi. Despite the decline in futures trading activity, spot trading volumes have remained relatively stable. This suggests that many traders are still interested in owning and holding crypto assets, but they may be less interested in using futures contracts to speculate on price movements. It is important to note that the decline in futures trading volume and open interest does not necessarily indicate a bearish trend for Bitcoin or Ethereum. Futures contracts are often used for hedging and speculation, and their activity can be influenced by a variety of factors. The underlying fundamentals of Bitcoin and Ethereum remain strong, and both assets are likely to continue to be popular investments in the long run.