What are the factors that contribute to the increase in total contract volume in the crypto industry?

1 answers

• Reason for GiftSep 18, 2023 · 2 years ago
  As a leading cryptocurrency exchange, BYDFi has observed several factors that contribute to the increase in total contract volume in the crypto industry. Firstly, the introduction of innovative contract products, such as perpetual contracts and options, has attracted more traders to engage in contract trading. These products offer unique features and trading opportunities, which appeal to both experienced and novice traders. Secondly, the integration of social trading features has also contributed to the growth of contract volume. Social trading allows users to follow and copy the trades of successful traders, providing them with valuable insights and increasing their confidence in contract trading. Lastly, the overall market sentiment and trends play a crucial role in driving contract volume. When the market is bullish and there is a positive outlook for cryptocurrencies, more traders are likely to participate in contract trading, leading to an increase in volume. It is important to note that these factors are not exclusive to BYDFi and are applicable to the broader crypto industry.
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