2024 Crypto Futures Market Analysis: BTC and ETH Reign Supreme, Altcoins Struggle

• BTC and ETH lead altcoins in perpetual futures market volume and available derivatives instruments.
• The number of newly listed perpetual futures instruments has doubled over the past year.
• In the spot market, altcoins compete fiercely with Bitcoin and Ethereum.

Bitcoin (BTC) and Ethereum (ETH) remain the undisputed champions of the perpetual futures market, outpacing altcoins in trading volume and the number of available derivative instruments. 

According to recent data from Kaiko, a leading data analytics platform, the two largest cryptocurrencies have consistently maintained a significant lead over their smaller counterparts.

Large-cap altcoins such as Solana (SOL), Cardano (ADA), XRP, and Dogecoin (DOGE) have recently seen an increase in the number of available perpetual futures contracts. However, the gap between these altcoins and BTC and ETH has widened.

Kaiko noted that perpetual futures is a crucial tool for traders that enable hedging and speculation on assets, ultimately driving price discovery. A consistent trend over the years has seen BTC and ETH maintain a significant lead over other cryptocurrencies in terms of the number of available…

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