Chicago Mercantile Exchange (CME) Announces Bitcoin Futures Record Has Been Broken

The new price action experienced by Bitcoin (BTC) earlier this week has attracted the attention of many investors in the market. On April 4, the Chicago Mercantile Exchange (CME), announced that it as broken a new record in Bitcoin futures trading volume.

New Trading Volume Record for Bitcoin Futures

In a recent tweet uploaded by the Chicago Mercantile Exchange (CME), they have traded 112,700 Bitcoin, the equivalent to $563 million. This is a similar trading volume as registered by several other cryptocurrency exchanges in the market.

In general, retail investors and holders tend not to use Bitcoin futures since the smallest contract that the CME offers is just 5 Bitcoins and because retail investors tend to use platforms such as exchanges. At the same time, a significant portion of the trading volume of the CME comes from Wall Street. In general, wealthier, traditional and larger investors tend to use futures.

It is worth mentioning that several investors outside crypto believe that virtual currencies are a scam. However, this is not like that and the market is evolving into a more mature industry as time passes. Now, that half a billion dollars are being traded on the CME, there are several individuals that are paying close attention to what is happening in the market.

A higher level of trading volume could be very positive for digital assets since the U.S. Securities and Exchange Commission (SEC) could consider the approval of an exchange-traded fund (ETF). This increase in the liquidity of the Bitcoin futures market could help investors protect themselves against price drops in the future.

Meanwhile, in the traditional Bitcoin spot market, there is currently a controversy regarding trading volumes and how exchanges could be participating in wash trading activities. There are several platforms that have experienced a sudden increase in their trading volume because there are users that could be performing wash trading. This increases the interest of other users to start trading in these markets due to the “higher” liquidity they display. However, these are not respected platforms.

Changpeng Zhao, the CEO of Binance, one of the most popular exchanges in the crypto space, said that things are “getting a little out of hand.”

According to a recent report released by Bitwise, 95% of the exchanges in CoinMarketCap have faked their volumes to attract a larger number of traders. Meanwhile, the CME is registering a larger number of traders that want to trade Bitcoin.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Carl T
Carl T
Carl is a legend in cryptocurrency space for his long-storied experience, history and insights. He is a digital nomad who fell in love with bitcoin and its offspring for many years now and prides himself on delivering quality perspectives in the emerging world of crypto-assets and blockchain technology.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

DeFi App Aave Creates First Credit Delegation Loan to DeversiFi Decentralized Exchange

DeFi lending platform, Aave completes its first-ever ‘credit delegation’ as DeversiFi borrows over $230,000 without posting collateral. The service agreement was signed on...

Bitcoin Futures Trading at a High Premium; Already Hitting $12,000 on CME

Bitcoin has yet again gained momentum, with people expecting for $12k to hit soon. According to analyst Mati Greenspan, for a sustainable rally, a...

Polkadot (DOT) Launches The First Parachain Implementation Testnet, Rococo

Polkadot introduces parachain functionality with Rococo testnet, a Proof of Authority (PoA) network, allowing users to send direct messages to the Relay Chain and...

Bitcoin Self-Custody Provider Casa Now Allows Users to Buy BTC via Apple Pay

Bitcoin self custody service provider, Casa now allows its customers to buy and hold their own bitcoin. Selling BTC is not supported yet. According...

Four Top Chinese State-Owned Banks Are Testing The Chinese Digital Yuan Project (DCEP)

In an unconfirmed report, four Chinese state-owned banks are gradually testing the ‘digital renminbi’ wallet app and Digital Currency/Electronic Payment (DCEP) system in different...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today