比特幣期貨交易量恢復，超過以太坊和索拉納

加密貨幣市場的波動景觀永遠被投資者情緒和貿易活動的轉變所刺破。

The volatile landscape of cryptocurrency markets is perpetually punctuated by shifts in investor sentiment and trading activity. Among the myriad metrics used to gauge these fluctuations, “futures trading volume” stands as a crucial indicator, offering a window into the speculative fervor surrounding digital assets. This metric, which tracks the aggregate amount of a cryptocurrency involved in futures-related trades on centralized derivatives exchanges, provides valuable insights into market participants’ confidence and expectations.

加密貨幣市場的波動景觀永遠被投資者情緒和貿易活動的轉變所刺破。在用於衡量這些波動的無數指標中，“期貨交易量”是一個關鍵指標，為圍繞數字資產的投機性熱情提供了一個窗口。該指標跟踪了在集中式衍生品交易所中與期貨相關交易中涉及的加密貨幣的總數，它為市場參與者的信心和期望提供了寶貴的見解。

Recent trends have revealed a compelling divergence, with Bitcoin (BTC) experiencing a resurgence in futures trading volume, while Ethereum (ETH) and Solana (SOL) exhibit relative stagnation. As the crypto market navigates new highs and lows, understanding the trends in futures trading volume is essential for traders seeking to anticipate market direction.

最近的趨勢表明，比特幣（BTC）經歷了期貨交易量的複興，而以太坊（ETH）和索拉納（SOL）（SOLANA（SOL）（SOLANA（SOL））表現出相對停滯。當加密貨幣市場航行新的高潮和低點時，了解期貨交易量的趨勢對於尋求預測市場方向的交易者至關重要。

Understanding Futures Trading Volume

了解期貨交易量

To fully appreciate the significance of futures trading volume, it’s essential to understand the mechanics of futures contracts. These contracts are agreements to buy or sell an asset at a predetermined price and date in the future. In the context of cryptocurrencies, futures contracts allow traders to speculate on the future price movements of assets like Bitcoin, Ethereum, and Solana without actually owning the underlying coins. For example, a trader might enter into a futures contract to sell 1 Bitcoin in one month’s time at a price of $70,000. If Bitcoin’s price falls below $70,000 by the agreed-upon date, the trader who sold the futures contract will need to pay the difference to complete the contract. Conversely, if Bitcoin’s price rises above $70,000, the trader who bought the futures contract will receive the price differential.

要充分理解期貨交易量的重要性，必須了解期貨合約的機制。這些合同是以預定的價格和將來以預定的價格和日期購買或出售資產的協議。在加密貨幣的背景下，期貨合約允許交易者推測比特幣，以太坊和索拉納等資產的未來價格變動，而無需實際擁有基礎硬幣。例如，交易者可能會簽訂期貨合約，以70,000美元的價格在一個月內出售1個比特幣。如果比特幣的價格在約定日期下跌低於70,000美元，那麼出售期貨合約的交易者將需要支付差額才能完成合同。相反，如果比特幣的價格上漲70,000美元以上，購買期貨合約的交易員將獲得價格差異。

Futures trading volume, therefore, reflects the total value of these contracts traded within a specific timeframe. A high volume suggests strong speculative interest, indicating that traders are actively betting on price fluctuations. Conversely, a low volume may signal a lack of conviction or a period of consolidation. In essence, futures trading volume serves as a real-time gauge of the market’s speculative appetite.

因此，期貨交易量反映了在特定時間表內交易的這些合同的總價值。大量量表明投機性的興趣很大，這表明交易者正在積極下注價格波動。相反，低體積可能表明缺乏信念或合併時期。從本質上講，期貨交易量是市場投機性食慾的實時量表。

Bitcoin’s Futures Volume Surges After Prior Month's Dip

比特幣的期貨量降低後的期貨量激增

Recent data from Glassnode has illuminated a notable uptick in Bitcoin’s futures trading volume. After experiencing a dip in the preceding month, the metric has rebounded, climbing from a low of approximately $40 billion to $57 billion. This resurgence suggests a renewed interest in Bitcoin’s future price movements, which could be driven by a confluence of factors.

GlassNode的最新數據闡明了比特幣期貨交易量的顯著上升。在上個月的下一個月下降後，該度量已經反彈，從約400億美元攀升至570億美元。這種複興表明，對比特幣的未來價格變動產生了重新興趣，這可能是由於因素匯合而驅動的。

Among the top-tier cryptocurrencies, Bitcoin has displayed the most significant shift in futures trading volume. Prefixes "DE-," "E-," and "NEO-" in the table denote specific types of exchanges.

在頂級加密貨幣中，比特幣顯示出期貨交易量最大的轉變。表格中的前綴“ de-”，“ e-”和“ neo-”表示特定類型的交換類型。

Several Factors Drive Bitcoin's Futures Volume

有幾個因素驅動比特幣的期貨量

Several factors could be contributing to the resurgence in Bitcoin’s futures trading volume. One possibility is the recent surge in BTC price, which has seen a nearly 150% increase from its 2022 low. This price action may be luring new traders into the market and encouraging existing participants to increase their positions.

可能有幾個因素導致比特幣期貨交易量的複興。一種可能性是最近的BTC價格上漲，比其2022年的低點增加了近150％。這種價格行動可能會吸引新的交易者進入市場，並鼓勵現有參與者提高其頭寸。

Another factor could be the increasing availability of futures products on centralized exchanges. As more exchanges introduce futures trading pairs for a wider range of cryptocurrencies, we can expect to see a corresponding rise in futures trading volume.

另一個因素可能是集中交易所期貨產品的可用性增加。隨著越來越多的交易所為更廣泛的加密貨幣引入期貨交易對，我們可以期望看到期貨交易量的相應上升。

Additionally, the ongoing development of the Bitcoin network, including upgrades and new use cases, could also be driving interest in futures contracts. As Bitcoin's technology evolves, traders may be placing more trades in anticipation of these changes, leading to higher futures trading volume.

此外，比特幣網絡的持續開發（包括升級和新用例）也可能引起人們對期貨合約的興趣。隨著比特幣技術的發展，交易者可能會在預期這些變化方面進行更多的交易，從而導致期貨交易量更高。

Relative Stagnation in ETH and SOL Futures Volume

ETH和SOL期貨量的相對停滯

In stark contrast to Bitcoin’s (BTC) marked resurgence, both Ethereum (ETH) and Solana (SOL) have seen relatively flat futures trading volumes. This divergence suggests that while Bitcoin is attracting significant speculative interest, altcoins are struggling to maintain momentum.

與比特幣（BTC）標誌著復興的鮮明的相反，以太坊（ETH）和Solana（Sol）都看到了相對平坦的期貨交易量。這種差異表明，儘管比特幣引起了極大的投機興趣，但Altcoins仍在努力維持動力。

Despite a slight uptick in August, Ethereum’s futures trading volume has remained relatively constant over the last four months. After reaching a peak of $69 billion in May, the metric experienced a decline to $46 billion in June before recovering to $55 billion in August.

儘管八月份有輕微的增長，但在過去四個月中，以太坊的期貨交易量保持相對穩定。 5月達到690億美元的高峰後，該指標經歷了6月的下降至460億美元，隨後8月收回至550億美元。

Solana futures trading volume also decreased from $16 billion in June to $11 billion in July. While the volume did recover to $15 billion in August, this level is still lower than the levels seen in May and June.

Solana期貨交易量也從6月的160億美元減少到7月的110億美元。雖然該數量確實在8月回收到150億美元，但該水平仍然低於5月和6月的水平。

This data from Glassnode highlights the changing dynamics in the crypto derivatives market.

來自GlassNode的數據突出了加密衍生品市場的變化動態。

What Contributes to Altcoins' Futures Volume Stagnation?

是什麼促進了Altcoins的期貨量停滯？

Several factors could be contributing to the stagnation in Ethereum and Solana’s futures trading volume.

可能有幾個因素導致以太坊和索拉納期貨交易量的停滯。

Ethereum’s lack of momentum in the face of Bitcoin’s strong price performance could be a factor. Although both cryptocurrencies have displayed resilience throughout 2024, Bitcoin has seen more significant price gains, which might be shifting traders’ preferences.

面對比特幣的強勁價格表現，以太坊缺乏動力可能是一個因素。儘管兩種加密貨幣在2024年都表現出韌性，但比特幣的價格上漲更大，這可能會改變交易者的偏好。

With both cryptocurrencies recovering from the 2022 crypto winter, it’s possible that traders are now focusing more on Bitcoin due to its steeper

由於兩種加密貨幣都從2022年的加密冬季恢復過