Bitcoin Derivatives Exchange Activity Reaches Mid-November Levels Per New Report

Bitcoin Derivatives Exchange Activity Reaches Mid-November Levels

As Bitcoin price shoots up to $5k level and further looking to register more gains, the activity on the exchanges is also making records.

Recently Skew, a data analytics platform for Bitcoin derivatives market shared the data regarding perpetual volume on exchanges like Bitmex, Bitflyer, and Deribit that have seen two consecutive $10 billion sessions on perpetual swaps. This level of activity was last seen in mid-November during the sell-off last year.

A similar picture is painted on the liquidation side as $500 million were bought in one session on Bitmex, however, it not as large as what was sold on the way down in November.

The options volume on Deribit has been making new records for the last two weeks, though it is still a long way in comparison to the underlying volumes but is five times more than the volume recorded in November.

Recently, we also reported how the bullish momentum in the market has driven the community into a frenzy as evident from the report by Cumberland, a cryptocurrency over-the-counter trading platform that witnessed over 10 different bids worth more than 1000 Bitcoin in the space of just an hour.

“The post-trade analysis of Monday evening’s price action revealed a series of large bids (>1,000 BTC per order) within a 1-hour span, which appears to be actual buyers vs. forced liquidations.”

This burst of green in the market has created a flurry of excitement among not just the retailers but also the institutions involving Wall Street that are participating in this rally.

Bitcoin Breaks All-time High In Transactions, Twice In Ten Days

Bitcoin price has still a long way to go before it hit its last all-time high but apart from exchange trading, the on-chain transactions have also broken the record, that too twice in the last 10 days.

On March 30, 2019, the new peak has been established at 2,745 transactions per day that broke the previous record from four days back on March 26th when the transactions per day have been 2,734. Both of these records broke the previous record of 2,722 transactions made on December 12, 2017, during the bull run.

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