Futures contracts allow traders to bet on the future price movements of cryptocurrencies without owning the underlying asset. They trade on platforms like Binance, FTX, and Deribit. Here are the 10 most traded crypto futures contracts by volume:
1. Bitcoin (BTC) Futures
As the most valued crypto, Bitcoin futures are the most liquid with daily volume exceeding $30 billion across major exchanges. Contracts are cash-settled against BTC price on reference spot exchanges.
Both quarterly and bi-weekly BTC futures are available to cater to short and mid-term traders. Bitcoin futures allow speculating on BTC prices without dealing with custody.
2. Ethereum (ETH) Futures
Ethereum is the second largest cryptocurrency with its own deep futures market. ETH contracts trade against the USD pair to bet on Ethereum’s dollar value. Daily volume exceeds $5 billion across key derivatives exchanges.
Quarterly and monthly Ethereum futures contracts are offered, allowing traders to hedge against ETH price fluctuations. Ethereum futures are a popular way to gain leveraged exposure without managing ETH directly.
3. Binance Coin (BNB) Futures
As the native token of the Binance exchange, BNB is among the most traded coins with robust futures volume. Being exchange-based, BNB often diverges from general crypto market movements.
BNB futures contracts are settled in Tether (USDT) stablecoin against BNB’s USDT valuation on Binance. Daily trading activity is around $250 million for BNB futures.
4. Litecoin (LTC) Futures
Litecoin is a liquid payments-focused cryptocurrency with average daily futures volume approaching $2 billion across platforms. LTC futures contracts cash settle against LTC’s USD price on spot exchanges after expiry.
Both monthly and quarterly expiry Litecoin futures are traded, appealing to varied trading horizons. LTC’s high liquidity makes its futures contracts smoothly tradable.
5. Cardano (ADA) Futures
As a leading smart contract platform, Cardano’s native ADA token has seen surging derivatives interest. ADA futures contracts settle against the token’s dollar valuation on spot markets.
Average daily volume for ADA futures exceeds $150 million. Traders utilize ADA futures to speculate on Cardano’s cryptocurrency price without dealing with the blockchain itself.
6. Dogecoin (DOGE) Futures
The popular meme-based Dogecoin has a cult following in the crypto community translating to active DOGE futures trading. Daily volume is around $100 million for DOGE futures.
Quarterly expiring contracts let traders bet on DOGE’s future price in USDT stablecoin terms. As a volatile coin, Dogecoin attracts plenty of futures speculators.
7. Polkadot (DOT) Futures
DOT is the native token of the Polkadot blockchain network. As a leading smart contract platform, it has attracted growing derivatives interest. DOT futures contracts cash settle against DOT’s spot dollar price.
Average daily volume for DOT futures currently exceeds $350 million as traders seek leveraged exposure without managing DOT directly. Both monthly and quarterly expiries are available.
8. Solana (SOL) Futures
As an Ethereum rival, Solana’s SOL token has experienced massive growth. SOL futures allow speculating on SOL’s price movements without holding the asset. Daily volume approaches $250 million.
SOL futures contracts cash settle in USDT value against SOL price on Binance as the reference exchange. Quarterly, bi-quarterly, and monthly contracts provide varied trading horizons.
9. Ripple (XRP) Futures
Ripple facilitates global bank settlements and remittances. Its XRP token has long been a top traded cryptocurrency with deep futures liquidity. Daily volume exceeds $700 million.
XRP futures contracts are primarily traded on Binance and FTX, settling in USDT against XRP’s dollar valuation on spot markets after expiry. Both weekly, quarterly, and bi-quarterly contracts are available.
10. Tron (TRX) Futures
TRX is the digital currency of the Tron blockchain designed for content creation and distribution. TRX futures trading averages around $300 million daily across major exchanges.
Contracts cash settle against the TRX market price in USDT terms as quoted on Binance. Traders utilize quarterly, bi-quarterly, and monthly TRX futures contracts to speculate on Tron’s crypto valuation.
With cryptocurrencies growing more mainstream, expect futures markets to continue expanding for additional emerging digital assets as interest in speculating and hedging keeps rising.