World’s Leading Bitcoin Derivatives Exchange Clocks Record-Breaking Volume

Hong Kong-based BitMEX, the world’s leading crypto derivatives exchange, says it just hit a record high of $11.19 billion in trading volume in a 24-hour period.

The exchange also reached another milestone, achieving just over $1 billion in open interest on its Bitcoin perpetual swap contract. BitMEX reports that its trades have reached $970.5 billion in the past 365 days.

BitMEX also achieved US$1 Billion open interest on the Bitcoin perpetual swap contract, for the first time pic.twitter.com/hNK2dSg4R7

— BitMEX Research (@BitMEXResearch) June 26, 2019

CEO Arthur Hayes is slated to face off against renowned economist and Bitcoin basher Nouriel Roubini at a highly anticipated debate in Taipei, Taiwan on July 3rd. Hayes is known for his fiery, upfront style.

“Each Monday the Lord of Liquidation feasts on the souls of those who dare hold open Bitcoin short positions on the CME. #RektOnOpen”.

When Bitcoin crossed $10,000 on Friday, June 21, Hayes gave a shout-out to the king of crypto.

“Ten mother fucking thousand dollar Bitcoin. I hope you are ready to rage in Taipei.”

Roubini is known for his crypto teardowns. He says Bitcoin and the crypto market is pure fakery, referencing a study conducted by Bitwise which showed that crypto trading volumes on a number of exchanges are largely manipulated.

“How can one believe any of these figures when 95 percent of all bitcoin transactions on a typical exchange are fake? Fake-coins, shit-coins, fake-transactions, fake-pricing. The only true thing in crypto space is manipulation, pump n dump, front-running, wash trading, etc…” 

Crypto research firm Messari includes 10 exchanges among its index confirming real trading volumes. It shows that Bitcoin is currently trading at $13,704.21, up 20.48% in the past 24 hours.

Grayscale, the world’s largest cryptocurrency asset manager with $1.2 billion under management, reports that institutional investors are rushing in, with investments in Bitcoin and crypto up 2,300% in 2019.

Since Bitcoin’s last bull run at the end of 2017, the landscape has changed dramatically. Several major corporations are building infrastructure for trading, sending or storing cryptocurrencies, including Facebook, Fidelity and TD Ameritrade. Major initiatives, including Intercontinental Exchange’s Bakkt and Facebook’s Libra, are contingent upon regulatory approval.

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