Crypto Derivatives Trading Volume Drops 15.7% in H1 2026

Crypto derivatives trading volume in the first half of 2026 totaled $35.08 trillion, down 15.7% from the same period a year earlier, according to CoinGlass's H1 2026 crypto market report.

The average daily volume reached $193.8 billion in January, June 2026. Despite a rebound after April’s low, open interest (OI), liquidations, and institutional flows pointed to an uneven market recovery.

Average daily open interest fell 10% year over year, from $134.46 billion in January to $103.56 billion in June. Open interest rose more slowly than volume, with a six-week drop of 36.5% from its peak on January 15 to its low on February 25.

CoinGlass noted that if open interest rises in the second half without a simultaneous recovery in volume and market depth, risks could build up in a less liquid environment.