The Block reports major exchange trading dropped near a 12-month low, while the CFTC (U.S. derivatives regulator) is moving to open the U.S. market to crypto perpetual futures (no-expiry futures contracts).
Major exchange crypto futures volume fell to about $2.9 trillion in May, placing activity near its lowest level in the past 12 months, according to The Block. Binance remained the leading venue by volume, followed by OKX, Bybit and Gate. The report also said the CFTC (U.S. derivatives regulator) is moving to open the United States market to crypto perpetual futures (no-expiry futures contracts), a widely used derivatives product outside the country that lets traders maintain leveraged exposure without a fixed settlement date.