BitMEX Trading Engine Exchange Nets $11 Billion Worth Of Trading Volume Per Week
BitMEX Exchange Records $11 Billion Worth of Trading Volumes per Week
There are no doubts that crypto-enthusiasts are amazed, but still optimistic that the stance of cryptocurrency will grow and be widely accepted all over the world. Bitcoin’s price soared above the $7,000 price mark for over a month now, signifying more than 100 percent gain since last year. The surge propelled trading volumes to reach the top in numerous crypto-exchanges such as BitMEX.
BitMex crypto-exchange, which is one of the leading exchanges in the market today recently released a report that revealed lots in the company’s ability to handle the recent surge in the market and its creativities in scaling.
BitMEX revealed this on its official Twitter page:
“BitMEX Technology Scaling. Take a read how our engineering team is working to handle the enormous trading volumes going through BitMEX and the challenges that we face ahead as we continue to scale.”
BitMex also added that the exchange’s trading engine differs from other engines in the crypto-industry and traditional finance. The report also revealed the highlights of the increasing trading volumes this year, in which the exchange recorded a breath-taking trading worth of about $11 billion on the 11th of May 2019.
Furthermore, the company also added that it generated a ten-time performance improvement after it concentrated on:
“Optimizing order-cancellations, amend, and placement actions in the trading engine, reworking internal data-structures, algorithms and audit checks to tune specifically for the kind of speed kdb+ can offer.”
BitMex is also focusing on creating a trading engine in a method that,
“Not a single satoshi goes missing, or the system shuts down! Additionally, our engineers have identified several key areas where optimizations can safely be made and are working tirelessly to deliver a new, robust architecture to increase the capacity of the platform dramatically.”
The crypto-exchange closed its report with a hint to increase its changes as part of its continuing long-term re-structuring of its trading platform for users.
The recent boost on BitMex and other cryptocurrency exchanges is linked to the growth of crypto-investors. The recent increase in the price of BTC has – no doubt – bolstered believes in the future of the digital asset. The public still waits patiently as headlines move to the mainstream media, which showed by the number of Google searches on “Bitcoin” and “cryptocurrency.” It is essential also to know that these searches on bitcoin and cryptocurrency increased in the past few months as the price of bitcoin increased.
Even as everyone is yet to join the bullish train, most crypto-traders still have faith that the market has seen its bottom of the past bearish market and that only a small retracement can be found in the crypto-market. On this note a crypto follower on stated on Twitter:
“Anybody trying to convince you that $BTC is about to retrace 30% is just salty they missed the current bullish advance. We’ll get a healthy retrace, but not 30%.”
On a final note, as it seems, the best is yet to come on Bitcoin and cryptocurrency in general.