High trading activity in the cryptocurrency derivatives market, such as futures and options, can provide price discovery for the 现货 market. If there is a significant increase in futures trading volume with a bullish bias, it may indicate that market participants expect the price of the underlying cryptocurrency to rise in the future, which can then influence the 现货 market price. The availability of derivatives also allows investors to hedge their risks, which can attract more risk - averse investors to enter the cryptocurrency market. However, the complexity of derivatives can also lead to increased market volatility if not properly understood, and large - scale derivative trading strategies can sometimes amplify market movements, both up and down.