BitMEX Hits $1 Trillion in Trading Volume For Bitcoin After The Massive Price Increase
- BitMEX registers $1 trillion in trading volume in an entire year
- Other exchanges such as Binance have also registered new records
A few days ago, Bitcoin (BTC) experienced a fast price increase that drove the price of the virtual currency to new highs in more than an entire year. This caused a lot of FOMO and many individuals were entering the market just to have exposure to Bitcoin. One of the exchanges that experienced a massive increase in trading volume was BitMEX, that allows users to operate with leverage. The exchange registered a yearly trading volume of over $1 trillion.
BitMEX Hits $1 Trillion Trading Volume For Bitcoin
Bitcoin has surged and reached $13,750 a few days ago, which attracted the attention of many investors around the world. In to profit from this price surge, many traders have also decided to enter the market and purchase/sell Bitcoin according to their trading strategies.
The total trading volume of Bitcoin on BitMEX skyrocketed to $1 trillion in 365 days, which is a total record for the exchange. In just a single day, BitMEX registered a trading volume of almost $7 billion. Binance, that is also one of the most popular exchanges in the market reached $5.5 billion in trading volume during the same day.
— Arthur Hayes (@CryptoHayes) June 29, 2019
BitMEX is also offering leverage trading in a wide variety of coins that includes XRP, Litecoin (LTC), Cardano (ADA), Bitcoin Cash (BCH), EOS and Ethereum (ETH). This allows individuals with an experienced background to trade on BitMEX and use leverage to maximize profits.
Arthur Hayes, the CEO of the exchange platform is expected to debate with the Bitcoin critic Nouriel Roubini at the Asia Blockchain Summit in Taipei at the beginning of July. Nouriel Roubini is a recognized economist that predicted the world financial crisis in 2008, however, he has always been against Bitcoin and cryptocurrencies.
Bitcoin is currently being traded around $11,200 and it has a market capitalization of $200 billion, according to CoinMarketCap.