Cryptographic market Q1 review: bitcoin prices are up 90% from their lows, and derivatives trading volumes are up 61% from 2019

The cryptographic market underwent a dramatic change in the first quarter of 2020, with the price of bitcoin plummeting by 40% overnight, according to BlockBeats, but looking back the overall performance of the cryptographic market in the first quarter didn't look as bad as we thought. The following is a brief summary of the global cryptographic market in Q1 2020. Overall, the market seems to be recovering slowly after a 3.12 plunge.

According to the data, the volume of cryptographic transactions increased by 61% in the first quarter, and the price of bitcoin outperformed the stock and gold markets. Global oil markets, stocks and real estate have all been affected to varying degrees by the new outbreak and the global economic downturn, with BTC hitting a low of $3,800 on March 12, though prices have risen 90.78% since then. Despite the faltering global economy, digital assets have far outpaced equities and precious metals.

BTC/USD 6 month chart April 9, 2020. Since hitting a low of $3,800 on March 12, 2020, bitcoin prices have risen 90%

Trading volumes in bitcoin derivatives rose 61 percent from 2019

A record $70 billion was traded in cryptocurrencies around the world on black Thursday, according to trading platforms that were crowded with buyers and sellers. Trading volume in bitcoin options surged to a record $198 million that day. On April 2, the Chicago mercantile exchange traded $347 million worth of bitcoin futures contracts. What's more, it's worth noting that after the big rally, derivatives exchange BitMEX has lost its dominant position over other futures market participants, while OKEx, Huobi and coinan are catching up.

According to Steven Zheng of The Block research institute, who reviewed The BTC futures trading data of 22 major cryptographic trading platforms, The volume of cryptographic trading platforms in The first quarter of 2020 increased significantly compared with The first quarter of 2019. Turnover in the first quarter of 2020 exceeded $154 billion, up 61 percent from the first quarter of 2019. Despite the growing volumes, some analysts believe they need to continue to grow or the negative trend will destroy the optimism.

Cryptographic trading activity on digital currency exchanges increased by 1,000 per cent, with 90 per cent of those buyers

In some countries, peer-to-peer (P2P) trading volumes have also flooded into platforms such as Local.bitcoin.com, Paxful, Mycrypto, Hodlhodl and Localbitcoins. Peer-to-peer transactions are growing in Argentina, Chile, Colombia, Egypt, India, kazakhstan, Kenya, Mexico, Morocco, South Africa, Sweden, Tanzania and venezuela. In addition, trading volume on the San Francisco exchange Coinbase hit an all-time high in March. Chainalaysis, a blockchain analysis firm, recently pointed out that trading volumes in mid-march were nine times higher than the average daily average.

伦敦金融科技公司 Mode Banking 的加密货币应用程序在 3 月底的交易量增加了 1000%。Mode 详细介绍说，在英国被官方封锁一周后，Mode 应用程序发现加密交易活动激增。90% 的交易都是买家进行的，而 Mode Banking 的大部分用户都来自英国。「冠状病毒援助计划和货币刺激计划的影响,」 Mode 在 4 月 9 日写道。「数万亿美元已经注入世界各地的经济和股市。这引发了对美元和其他货币贬值和通胀上升的长期担忧。 」 & have spent

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