Strong buying in U.S. technology stocks pushed the three major equity indexes higher, and the move quickly spilled into stock-linked crypto derivatives on Gate. Platform data cited by ChainCatcher showed Microsoft (MSFT) at $487.66, up 4.85% on the day, while Amazon (AMZN) traded at $284.02, up 4.58%. As spot prices advanced, trading activity and open interest in the related products on Gate climbed quickly.
According to the latest data from Coinglass, 24-hour contract volume for Gate MSFT reached $12.3705 million, a jump of 211.64%. Gate AMZNX recorded $4.9566 million in 24-hour contract volume, up 163.68%. The report said both increases ranked among the top performers in comparable stock-derivatives products across centralized exchanges. The figures point to a fast pickup in speculative and hedging activity tied to the two U.S. tech names as price momentum strengthened in the underlying shares.
Strong buying in U.S. tech stocks lifted the three major stock indexes, with the move feeding into stock-linked derivatives trading on Gate, according to ChainCatcher.
Gate platform data showed Microsoft (MSFT) at $487.66, up 4.85% on the day. Amazon (AMZN) was quoted at $284.02, up 4.58%.
Related derivatives on Gate see rapid pickup
As the underlying spot prices moved higher, trading activity and position size in related stock derivatives on Gate rose quickly.
The latest data from Coinglass showed that 24-hour contract volume for Gate MSFT reached $12.3705 million, surging 211.64%. For Gate AMZNX, 24-hour contract volume came in at $4.9566 million, up 163.68%.
Both increases ranked among the leaders for comparable stock-derivatives products on centralized exchanges, the report said.
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