In 2021 Q2, we found:

• Affected by the “5.19” event, the market volume nearly halved in June.
• Although the market has suffered a major blow, the proliferation of speculation in derivatives has not changed.
• The macro landscape of the exchange has not changed significantly: Binance still holds the top spot in the spot and perpetual contract markets, while OKEx and Deribit dominate the futures and options market segments, respectively.
• Compared with 2021Q1, the proportion of bitcoin-based derivatives trading volume has dropped significantly, while altcoin-based derivatives have relatively increased.
• In 2021, vocabulary related to MEMEs and Ethereum became a hot spot for users to search.