市場強勁成長，中心化交易所交易量飆漲：Bybit 報告

2023 年第四季度，加密貨幣產業經歷了顯著成長，中心化交易所 (CEX) 的交易量激增，導致市值升至 2.5 兆美元。值得注意的是，OKX、Binance、Bybit 和 Coinbase 的交易量成長令人印象深刻，佔業界平均的 255%。衍生性商品市場普遍看漲，尤其是比特幣和以太幣。比特幣作為傳統金融中的對沖工具而出現，投資組合多元化導致風險調整後回報增加。 Challenger 鍊和創投資金也出現復甦，Solana 和其他平台表現良好。

Robust Growth in Centralized Exchange Trading Volumes: Bybit's Institutional Report

中心化交易所交易量強勁成長：Bybit機構報告

Key Findings:

主要發現：

• Monthly Trading Volumes Surge: Centralized exchanges (CEXs) have witnessed a remarkable surge in monthly trading volumes from October 2023 to March 2024, coinciding with a significant increase in the crypto sector's market capitalization.
• Impressive Platform Performance: OKX, Binance, and Bybit exhibited exceptional growth in trading volumes, with OKX soaring by 278%, Binance by 239%, and Bybit by 264%. Coinbase also experienced a substantial increase of 193%, slightly below the industry average growth rate of 255%.
• BTC Surges Drive Growth: The substantial growth in CEX volumes is primarily attributed to Bitcoin's price surges, fueled by the approval of spot Bitcoin ETFs in the United States.
• Bullish Trends in Derivatives Market: The report reveals bullish trends in the derivatives market, particularly in Bitcoin (BTC) and Ethereum (ETH). Despite sideways movements in March and April, investors displayed bullish sentiment, evident in the large call premium observed for both BTC and ETH futures contracts.
• BTC as a Hedge in Traditional Finance: Bitcoin has emerged as an effective hedge in traditional finance (TradFi) portfolios. BTC and ETH exhibit correlations with traditional financial assets that are consistently below 3%. Allocating a small portion of a portfolio to BTC and ETH can enhance risk-adjusted returns and improve the Sharpe ratio.
• Challenger Chains and VC Funding Resurgence: Challenger chains, including Solana (SOL), have outperformed Ethereum since Q4 2023. Venture capital (VC) funding has also seen a resurgence, with a significant increase in deals and disclosed funding in Q4 2023 and Q1 2024.

Significance:

每月交易量激增：從2023 年10 月到2024 年3 月，中心化交易所（CEX）的月交易量顯著激增，同時加密貨幣行業的市值也大幅增長。 Binance 和Bybit 表現優異交易量成長，OKX 猛增 278%，Binance 猛增 239%，Bybit 猛增 264%。 Coinbase 也經歷了193% 的大幅成長，略低於255% 的行業平均成長率。 CEX 交易量的大幅成長。儘管3 月和4 月出現橫盤走勢，但投資者仍表現出看漲情緒，這從BTC 和ETH 期貨合約觀察到的巨額看漲期權溢價中可見一斑。成為傳統金融(TradFi) 投資組合中的有效避險工具。 BTC 和 ETH 與傳統金融資產的相關性始終低於 3%。將投資組合的一小部分分配給BTC 和ETH 可以提高風險調整後的回報並提高夏普比率。者鏈的表現優於以太坊。

Bybit's Institutional Report 2024 underscores the robust growth of the cryptocurrency sector and highlights key trends in centralized exchanges, derivatives markets, and the role of Bitcoin in traditional finance. The report provides valuable insights for investors, market analysts, and industry stakeholders to navigate the evolving market landscape effectively.

Bybit 的 2024 年機構報告強調了加密貨幣行業的強勁增長，並強調了中心化交易所、衍生性商品市場的主要趨勢以及比特幣在傳統金融中的作用。該報告為投資者、市場分析師和行業利益相關者提供了寶貴的見解，以有效駕馭不斷變化的市場格局。