CME Bitcoin Futures Report Shows Trading Volume Up 93% In Q2 2018

American financial exchange, Chicago Mercantile Exchange (CME) Group recently tweeted out that the average daily volume of bitcoin futures has grown an immense 93 percent in the second quarter of 2018.

The team further informed Twitter users and investors that open interest in bitcoin has also gone up by 58%, which represents an increase of over 2,400 contracts. An analytical chart provided by the CME shows both the number of contracts and equivalent Bitcoins for the first and second quarter, clearly depicting a distinction.

The CME Group supposedly launched Bitcoin futures back on December 17, 2018 and many consumers, primarily the Federal Reserve Bank of San Francisco released a letter blaming the existence of bitcoin futures for sabotaging the coin’s all time high of USD$20,000.

In particular, a statement read,

“The rapid run-up and subsequent fall in the price does not appear to be a coincidence.”

With this being said, Wall Street’s famous, global investment management, BlackRock, recently announced that it has plans to reconsider the possibilities of including cryptocurrencies into its investment options, given that its potential in bringing profits is evident. This is definitely interesting, as the successful firm once held an opposing viewpoint on cryptocurrencies and blockchain technology.

Could this mean that the negativity associated with Bitcoin futures will eventually disappear?

Get Daily Headlines

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

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide