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$1.06-Bln Is Bitcoin Futures Volume Demonstrated by BitMEX Right Now: Report

  • Yuri Molchan
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    The BitMEX crypto exchange is showing the biggest volume on Bitcoin futures trading totaling $1.06 bln against the USD

$1.06-Bln Is Bitcoin Futures Volume Demonstrated by BitMEX Right Now: Report
Contents

As reported by Business Times, the BitMEX exchange run by Arthur Hayes is demonstrating the biggest trading volume of Bitcoin futures - $1.06 bln or – open interest, in other words. 

Major BTC traders are trying to make profits on digital gold by trading BTC-based derivatives, such as futures contracts.

Bitcoin futures success on BitMEX

The BitMEX futures contracts pair XBT/USD is approaching the ATH of $1.23 bln that has been achieved earlier this year, its trading volume increased by $250 mln just within ten days.

The platform’s highest portion of trading volume comes from BTC futures – 91 percent on a daily basis.

BitMEX exchange is a trading venue that offers customers a chance to trade digital assets and their derivatives. It is owned by HDR Global Trading with headquarters in Seychelles and representative offices in many other countries.

Despite the fact that other assets prices have moved down substantially over the last day, Bitcoin is still more or less steady on its level of consolidation.

This year, this is the fourth time, when the open interest on futures on BitMEX has reached $1 bln. This is quite impressive.

It seems that traders on BitMEX are willing to stake more funds on BTC futures, not fearing to lose them. However, no actual consensus exists regarding the direction the Bitcoin price will head later on.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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