Bitcoin Trading Platform: BitMEX Hits 1 Million BTC in Daily Volume Again

Bitcoin News | Crypto News | Latest News

Bitcoin investors might be suffering under the weight of one of the asset’s heaviest-ever bear markets, but for cryptocurrency derivatives exchanges like BitMEX, the mood is anything but sour.

“What market downturn?,” began a press release sent from a public relations firm representing BitMEX, reporting that the Seychelles-based exchange had on Wednesday crossed 1 million BTC in daily trading volume for the second time.

Altogether, the platform saw 1,027,214.62 bitcoin contracts traded for the day, worth approximately $6.6 billion at the present exchange rate.

FREE CRYPTO COIN JUNKY HANDBOOK - 147 page guide covering Crypto Fundamentals, Beginners/Advanced Crypto Trading Strategies, Crypto Mining Techniques, ICO Investment strategies, and so much more.

CRYPTO TRADING STRATEGY GUIDES - Whether You're Day Trading, Swing Trading, Or Just Investing...Our Extensive Guides Will Get You To Where You Want To Be.

“Once again meeting our own record of 1 million bitcoin traded within 24 hours is a major milestone for the crypto-coin market and testament to the strong community BitMEX is growing,” said BitMEX CEO Arthur Hayes.

bitcoin price chart
For cryptocurrency exchanges and derivatives platforms, bear markets are often not nearly as dire as for individual investors. Though aggregate volume generally declines, exchanges can still reap significant profits from intraday volatility.

Hayes attributed the milestone in part to the firm’s recently-launched ETH/USD perpetual swap product, which allows traders to make leveraged bets on the ethereum price without ever holding ether.

The exchange previously crossed the 1 million BTC mark on July 24, notching a record both for the exchange and the industry at large. At the time, those contracts equated to more than $8 billion in 24-hour volume.

BitMEX isn’t the only cryptocurrency derivatives platform that has seen an uptick in trading in spite of the bear market. U.S. exchanges CME and CBOE have each seen a steady rise in bitcoin futures volume since these products launched in December, with the two platforms accruing a combined $572 million in volume on the same day in which BitMEX crossed 1 million bitcoin contracts for the first time.

LedgerX, a lesser-known U.S. cryptocurrency derivatives exchange that exclusively serves wealthy investors and institutions, also reported that its clients had traded a record $50 million worth of contracts on the CFTC-regulated platform during July.

Leave a Comment

Latest Crypto News

Visa Launches Blockchain Payment System

In 2016, Visa made it known that they were making strides into its first B2B blockchain adoption. This was in the wake of institutions and big corporations moving into blockchain adoption and investments. When the

Cryptocurrency Insurance

As cryptocurrency continuously evolves and gets adopted, the question of insuring it has come up. In the last year alone, a few cryptocurrency exchanges have been hacked and millions of dollars lost like Coincheck, Coinrail,

SEC Pursues Fraud Charges against LongFin

Long Fin is a fintech company that was incorporated in February 2017 and got listed on NASDAQ after acquiring cryptocurrency company, Ziddu, which was owned by Meridian Enterprises. When the purchase was made, LongFin’s CEO

Let’s Talk About LawCoin

ConsenSys Ventures had earlier on April 1st released a press release concerning several blockchain start-up projects they intended to back for the year 2019, through their accelerator program Tachyon; which was launched in Berlin at

The Cryptocurrency Wash Trading Problem

On the first of May, CoinMarketCap announced that all the exchanges that will not provide mandatory data by June 2019 will be promptly removed from their calculations. The cryptocurrency data provider stated that the reason

Winklevoss Brothers Settle Lawsuit with Charlie Shrem

Tyler and Cameron Winklevoss have reached a settlement against their fellow Bitcoin entrepreneur Charlie Shrem, where the court, having been informed of the settlement between the parties, under the direction of Judge Jed Rakoff, dismissed

IBM Launches Blockchain Based Payment Using Stellar

Last month, an IBM executive hinted at the company launching a cross border payment system in partnership with Stellar (XLM) coin. Jesse Lund, said that the program would allow payments from anywhere in the world,

Marc Faber Buys Bitcoin for the First Time

Thailand based Swiss Investor, Marc Faber bought his first Bitcoin after admitting that he was very wrong about cryptocurrencies and blockchain technology. His premier interest of investment is emerging and frontier markets. One of the

Sponsored: The Aerum ecosystem, a market-oriented hub

                  The Aerum ecosystem offers a decentralized hub The Aerum ecosystem is presented to the crypto sector with a platform for the disruption of the sector. In itself, it resembles the increasingly common Hubs. A

Thai Approves its First ICO Portal

Late last year, Rapee Sucharitakul, secretary general of Thailand’s Securities and Exchange Commission revealed in a statement to local press that plans were underway to launch one ICO portal by the end of November and

SEC Declares Ethereum Not a Security

The news that the US SEC deemed Ethereum not a security is not surprising at all. Some may ask why this is so despite the fact that Ethereum is the best performing cryptocurrency with a

Sign Up Below!
Airdroppin the Latest Crypto News, Trading Strategies, Tools, & Reviews



1
Bitcoin
Bitcoin
$4,031.33
-0.11%
2
Ethereum
Ethereum
$139.63
-0.69%
3
XRP
XRP
$0.3148
-1.02%
6
Bitcoin Cash
Bitcoin Cash
$161.00
2.12%
4
Litecoin
Litecoin
$60.358
-1.88%
11
Cardano
Cardano
$0.050421
0.05%
7
Stellar
Stellar
$0.1172
7.27%
17
NEO
NEO
$9.236
-0.87%
5
EOS
EOS
$3.748
-1.09%
14
IOTA
IOTA
$0.2956
-1.34%

Crypto Guides & Tutorials

 Crypto Reviews

Subscribe to Our Social Media Daily Crypto Memes
Follow, Like, and Share Our Memes With The World


Pin It on Pinterest

Plus Free Crypto Trading Guides, Tutorials, Latest Crypto News,
and Altcoin Reviews. (Coming Soon: Pro Trading Signals)
SIGNUP FOR YOUR FREE
CRYPTO COIN JUNKY
HANDBOOK
DOWNLOAD NOW
We hate spam as much as you do. Unsubscribe anytime.
Plus Free Crypto Trading Guides, Tutorials,
Latest Crypto News, and Altcoin Reviews
(Coming Soon: Pro Trading Signals)
DOWNLOAD NOW
We hate spam as much as you do. Unsubscribe anytime.
SIGNUP FOR YOUR FREE
CRYPTO COIN JUNKY
HANDBOOK
Plus Free Crypto Trading Guides, Tutorials, Latest Crypto News,
and Altcoin Reviews. (Coming Soon: Pro Trading Signals)
SIGNUP FOR YOUR FREE
CRYPTO COIN JUNKY
HANDBOOK
DOWNLOAD NOW
We hate spam as much as you do. Unsubscribe anytime.
Plus Free Crypto Trading Guides, Tutorials,
Latest Crypto News, and Altcoin Reviews
(Coming Soon: Pro Trading Signals)
DOWNLOAD NOW
We hate spam as much as you do. Unsubscribe anytime.
SIGNUP FOR YOUR FREE
CRYPTO COIN JUNKY
HANDBOOK