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This past April, news.Bitcoin.com reported on the Bitcoin futures markets offered by the two derivatives giants Cboe and CME Group and how contract volumes were steadily rising. This month, while BTC-spot prices slide to significant lows, both futures products from these two companies are still seeing increased demand for contracts.
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Over the past few months, the Chicago Board of Exchange (Cboe) and the Chicago Mercantile Exchange (CME Group) have been selling bitcoin-based futures products. Predictions have been dull as most forecasts are around the $ 9-9.4K USD range for bitcoin derivatives using both firms’ futures data. On the other hand, crypto-derivatives trade volumes have been increasing.
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On March 10 a cryptocurrency trader and researcher published a report on how he believes $ 3 billion worth of cryptocurrency trade volumes, primarily from a couple of exchanges, are concocted. The author of the study, Sylvain Ribes, alleges that the exchange Okcoin has been fabricating up to 93 percent of its trade volumes.
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Sylvain Ribes has published a study that reveals some interesting information about trade volumes stemming from exchanges like Okcoin (Okex) and Huobi, which may be falsifying their trade volumes. Ribes calculated his data from order books across all major exchanges to “measure how badly market selling $ 50k USD worth of each cryptocurrency would crash the price.”
