As Bitcoin becomes boring for many in the get-rich-quick crowd with volatility ebbing, trading in derivatives of the largest cryptocurrency is exploding.
At $5 billion to $10 billion a day, the amount of derivatives traded globally exceeds Bitcoin spot volume by 10 to 18 times, according to estimates from data trackers Skew and BitcoinTradeVolume.com. The volumes were about equal at the start of the year, through definitive figures for both are hard to come by from exchanges.
Leading the charge are Asian-based exchanges such as BitMex and Binance that offer futures contracts for Bitcoin and smaller coins that can be ...
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