比特币期货交易量恢复，超过以太坊和索拉纳

加密货币市场的波动景观永远被投资者情绪和贸易活动的转变所刺破。

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.

加密货币市场的波动景观永远被投资者情绪和贸易活动的转变所刺破。在用于衡量这些波动的无数指标中，“期货交易量”是一个关键指标，为围绕数字资产的投机性热情提供了一个窗口。该指标跟踪了在集中式衍生品交易所中与期货相关交易中涉及的加密货币的总数，它为市场参与者的信心和期望提供了宝贵的见解。

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.

最近的趋势表明，比特币（BTC）经历了期货交易量的复兴，而以太坊（ETH）和索拉纳（SOL）（SOLANA（SOL）（SOLANA（SOL））表现出相对停滞。当加密货币市场航行新的高潮和低点时，了解期货交易量的趋势对于寻求预测市场方向的交易者至关重要。

Understanding Futures Trading Volume

了解期货交易量

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.

要充分理解期货交易量的重要性，必须了解期货合约的机制。这些合同是以预定的价格和将来以预定的价格和日期购买或出售资产的协议。在加密货币的背景下，期货合约允许交易者推测比特币，以太坊和索拉纳等资产的未来价格变动，而无需实际拥有基础硬币。例如，交易者可能会签订期货合约，以70,000美元的价格在一个月内出售1个比特币。如果比特币的价格在约定日期下跌低于70,000美元，那么出售期货合约的交易者将需要支付差额才能完成合同。相反，如果比特币的价格上涨70,000美元以上，购买期货合约的交易员将获得价格差异。

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，期货交易量反映了在特定时间表内交易的这些合同的总价值。大量量表明，投机性的浓厚兴趣，表明交易者正在积极下注价格波动。相反，低体积可能表明缺乏信念或合并时期。从本质上讲，期货交易量是市场投机性食欲的实时量表。

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

比特币的期货量降低后的期货量激增

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的最新数据阐明了比特币期货交易量的显着上升。在上个月的下一个月下降后，该度量已经反弹，从约400亿美元攀升至570亿美元。这种复兴表明，对比特币的未来价格变动产生了重新兴趣，这可能是由于因素汇合而驱动的。

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.

在顶级加密货币中，比特币显示出期货交易量最大的转变。表格中的前缀“ de-”，“ e-”和“ neo-”表示特定类型的交换类型。

Several Factors Drive Bitcoin's Futures Volume

有几个因素驱动比特币的期货量

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.

可能有几个因素导致比特币期货交易量的复兴。一种可能性是最近的BTC价格上涨，比其2022年的低点增加了近150％。这种价格行动可能会吸引新的交易者进入市场，并鼓励现有参与者提高其头寸。

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.

另一个因素可能是集中交易所期货产品的可用性增加。随着越来越多的交易所为更广泛的加密货币引入期货交易对，我们可以期望看到期货交易量的相应上升。

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，比特币网络的持续开发（包括升级和新用例）也可能引起人们对期货合约的兴趣。随着比特币技术的发展，交易者可能会在预期这些变化方面进行更多的交易，从而导致期货交易量更高。

Relative Stagnation in ETH and SOL Futures Volume

ETH和SOL期货量的相对停滞

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.

与比特币（BTC）标志着复兴的鲜明的相反，以太坊（ETH）和Solana（Sol）都看到了相对平坦的期货交易量。这种差异表明，尽管比特币引起了极大的投机兴趣，但Altcoins仍在努力维持动力。

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.

尽管八月份有轻微的增长，但在过去四个月中，以太坊的期货交易量保持相对稳定。 5月达到690亿美元的高峰后，该指标经历了6月的下降至460亿美元，随后8月收回至550亿美元。

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期货交易量也从6月的160亿美元减少到7月的110亿美元。虽然该数量确实在8月回收到150亿美元，但该水平仍然低于5月和6月的水平。

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

来自GlassNode的数据突出了加密衍生品市场的变化动态。

What Contributes to Altcoins' Futures Volume Stagnation?

是什么促进了Altcoins的期货量停滞？

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

可能有几个因素导致以太坊和索拉纳期货交易量的停滞。

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.

面对比特币的强劲价格表现，以太坊缺乏动力可能是一个因素。尽管两种加密货币在2024年都表现出韧性，但比特币的价格上涨更大，这可能会改变交易者的偏好。

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

由于两种加密货币都从2022年的加密冬季恢复过