The cryptocurrency exchanges have witnessed stagnant spot trading while an active derivatives market is booming. Despite being a part of a brief crypto winter, the derivatives market indicated that many users were in it for the long haul and were holding large sums of Bitcoin and other major cryptos. In the second quarter of 2020, the market-wide open interest increased by 111%.

The OI was noted to be around $2.62 billion at the beginning of April and surged to $5.25 billion at the end of…

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