In May, the trading volume of major cryptocurrency exchange futures dropped to approximately $2.9 trillion, hitting a 12-month low and the lowest level since the end of 2023, reflecting an overall cooling of speculative activity in the crypto market. Meanwhile, the US CFTC has officially opened a regulatory pathway for crypto perpetual contract products to enter the US market. The report suggests that, compared to the trading access itself, a more important significance lies in the potential to promote institutional participation, build compliant infrastructure, and develop liquidity within the US. However, it remains to be seen whether US-regulated platforms can compete with offshore exchanges in terms of liquidity and trading conditions. (The Block)

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QuietRugAlarm
· 7h ago
2.9 trillion sounds impressive, but compared to the peak, it's more than halved, and retail investors have all fled.
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StakingLibrarian
· 11h ago
It’s a good thing that the regulatory channel has opened, but for U.S. domestic platforms, the fees and KYC—experienced players know.
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LateFeeLeo
· 11h ago
The latest move by the CFTC—consider the institutional “entry ticket” as already issued, but whether the “passenger fare” is expensive or not still depends on the situation.
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MintLaterMaybe
· 12h ago
The Block hits the key point: access is just the first step, competition is the real challenge
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