Bitcoin Gains 42% Last Quarter – Binance Research


  • Bitcoin Price Increases 42% Over Last Quarter

  • ETH token surpasses bitcoin

  • Bitcoin futures are popular on Binance

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Despite the fact that trading volumes in the second quarter of 2020 were slightly lower than in the first, bitcoin showed one of the best results in its history with a 3-month rise in prices by 42%. This is stated in a study by Binance Research on the analysis of the cryptocurrency market in the second quarter of 2020..

ETH surpasses Bitcoin, and COMP token shows record price growth


Trading volumes in Q2 2020 were slightly lower than Q1, with a particularly clear downward trend in large-cap assets. Despite the fact that the increase in the price of bitcoin in the second quarter was + 42%, the largest increase in its value occurred in the first 45 days of the second quarter, fluctuating between $ 8,700 – $ 10,200, twice failing to stay above the $ 10,000 mark.

Among this unusual pattern, ETH outperformed BTC with a + 69.7% quarterly return. This is possibly driven by the growth of the DeFi sectorDecentralized finance (DeFi) is a financial services built on blockchain technology that offer users access to an open, efficient and … More and pending launch of ETH 2.0. At the same time, XRP price dynamics have not changed: the yield was only + 0.5%, and the total volumes decreased by more than 50% compared to the previous quarter. In the top 10 cryptocurrencies, ADA (Cardano) was the only asset that showed not only a three-digit return (quarterly return of 173.8%), but also an overall increase in volume (by 43.4%).

“Accordingly, crypto market volatility was highest at the start of the second quarter. This can be seen by analyzing the Bitcoin Volatility Index. By comparing the Bitcoin Volatility Index (.BVOL) with the VIX CBOE, one can see to what extent the Bitcoin and S Index derivatives market has been comparable & P 500. Before doing this, one should consider the fact that .BVOL is a historical index that measures past volatility, while VIX measures implied volatility, ”the study said..

Index S & The P 500 bounced back quickly from March lows, climbing nearly 20% in the quarter (April to June). These indicators are usually seen as a consequence of the injection of fiscal and monetary stimulus into an economy where “uncertainty and volatility are likely to remain high”.

Bitcoin futures are popular


Futures traded on Binance continued to rise in the second quarter, with open interest reaching a new ATH value of $ 560M, and BTC perpetual contracts averaged 35% of trading volume (up from 82% in January).

Bitcoin Gains 42% Last Quarter - Binance Research

“At a more detailed level, the development of bitcoin prices may have been partially explained by market expectations of a halving (May 11), a short rally to June 1 (breaking through $ 10,000) and several price corrections before entering a narrow trading range … Finally, two weeks after the Bitcoin halving, BTC’s total hash rate dropped by about 25%. However, the overall hash rate rapidly increased and ended the second quarter at a new all-time high, ”the study says..

In the second quarter of 2020, Binance Futures released its second flagship product, Quarterly Futures. This is an important addition to Binance’s existing futures trading ecosystem. Since its inception, quarterly futures contracts have processed over $ 4.4 billion and sales exceeded $ 100 million.

Binance Futures has grown significantly in the second quarter of 2020. The exchange reached one of the highest trading volumes in May, with more than $ 45.5 billion worth of perpetual contracts sold in one week. Binance Futures Showed A Weekly Average Volume Of $ 24.7B.

The aggregate open interest in futures on Binance has consistently increased since the crypto crash in March 2020. In the first quarter, open interest increased from $ 150 million in January to $ 400 million in February, after which more than 60% in the form of sales waves was recorded in March. Since then, open interest has recovered and has grown steadily, hitting a new high of 560 million USDT in June.

Overall, Binance experts predict a further increase in open interest in futures contracts.


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Bitcoin Gains 42% Last Quarter - Binance Research
Bitcoin Gains 42% Last Quarter - Binance Research
Bitcoin Gains 42% Last Quarter - Binance Research
Bitcoin Gains 42% Last Quarter - Binance Research

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