SynFutures passes $3B in cumulative trading volume

SynFutures, a decentralized derivatives exchange, has passed $3 billion in cumulative trading volume and 55,000 total users, Invezz learned from a press release, which cited data from Dune Analytics. The milestone comes ahead of a V2 launch and just four months after the platform’s open beta launch.

Dynamically growing crypto derivatives market

The market for decentralized crypto derivatives is growing dynamically as users aim to expand their DeFi investment strategies. Synthetix and other derivative exchanges have had some early success, though the market opportunities still remain largely untapped.

What’s more, many of these platforms face limitations in listing certain trading pairs or assets, which further prevents some traders from becoming involved in the market.

Free trade with SynFutures

Users of SynFutures can freely trade practically anything they want: major cryptocurrencies, altcoins, gold, equities, etc. Anyone can list a trading pair with ease. The derivatives exchange offers more than 150 underlying pairs, which is more than any other platform in decentralized derivatives.

SynFutures has the most users of all analogical platforms

With more than 55,000 users, SynFutures takes the lead in the DeFi derivatives space. dYdX has the second-highest number of users (just 61,500). Transactions on SynFutures are distributed among users, not concentrated in a few addresses, additionally cementing organic retail growth.

Rachel Lin, CEO and cofounder of SynFutures, said:

$3 billion in cumulative trading volume is a good starting point, and we believe that behind the number, we have good quality traction and the potential for future growth, as well. We’re excited to ignite the next phase of expansion and provide even more opportunities for our users to get involved and engage with our ecosystem.

Aggressive platform growth

SynFutures is aggressively growing its platform. It is getting set for V2, an upgraded version of the current exchange. It plans to expand on its current products with Coin-Margined Futures and NFTures alongside improved user interface and user experience.

NFTures is the first derivatives product in history to allow users to take long or short positions in collections or individual NFTs made up of multiple assets.

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