US crypto users now have a regulated platform to trade crypto derivatives
The approval of Coinbase Global adds to the wind of positive change blowing across the US crypto space
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Crypto derivatives are one of the most popular products to come out of the section of the global financial market that belongs to crypto. While spot trading is still the most popular option for crypto traders, derivatives are not far behind. In fact, crypto options trading volume on the CME or Chicago Mercantile Exchange rose to about $1 billion in July, as per CCData reports.
In the US, crypto derivatives are indeed garnering more and more attention, and now the American crypto enthusiasts have a brand new platform for efficient crypto derivatives trading. This new protocol would be none other than the crypto exchange Coinbase Global.
In a historic development in the US crypto space, Coinbase Global has become the first crypto firm to have the approval to offer crypto futures to the retail customers in the US. The approval came into effect on August 16.
2022 saw a crypto winter like none other, with the Terra-LUNA death spiral, followed by the collapse of FTX, Celsius, and other notable crypto entities, which made many retail and institutional investors withdraw their stakes in the market. This essentially led to both spot and derivatives markets losing ground, and the aftershocks are still felt, with CCData recording the combined crypto spot and derivatives trading volume on US-based centralised crypto exchanges to have fallen by 12 percent in July to $2.36 trillion.
However, now the US investors can hope for Coinbase Global to change the US crypto derivatives scene for the better, by becoming the first regulated crypto firm to bring crypto futures to the country.
