The CME Group, one of the largest derivative sites in the world, has recorded a multiple increase in activity on biktouin-futures market in light of the rising asset prices in recent days.
On April 4, the volume of trading in BTC contracts for CME was 22,542. According to the instrument specification, the size of one contract is 5 BTC. Thus, with a bitcoin price of $ 5,000, the volume of transactions with crypto derivatives amounted to more than $ 563 million.
April 4 was approximately 950% higher than the value recorded on the first day of the month when 2,162 contracts were concluded.
The previous historical maximum on the BTC futures market, CME, was set on February 19, when the number of concluded contracts exceeded 18,000. At the beginning of the same month, the exchange recorded the absolute minimum activity since the instrument was launched.
According to Messari analytical portal, yesterday Bitcoin trading volume on the top 10 cryptocurrency exchanges was $ 684 million. Commenting on the latest data, eToro platform analyst Mati Greenspan said :
“Although Wall Street contracts are only paper based and are not settled in Bitcoin, they now make up a large part of the market.”
Another type of futures contract will be launched on the platform of the owner of the New York Stock Exchange Bakkt, which has not yet opened to today, contrary to previously designated dates.
Bakkt intends to provide Wall Street players with the opportunity to trade Bitcoin with the direct handling of an asset, which it will also store for its customers. Recently, the platform announced the inclusion of several key figures on its board of directors.
Another major American derivatives market, Cboe, reported in March that it would not list BTC futures in the coming month due to low interest of traders in the instrument and the need to rethink its promotion strategy.
Publication date 06/04/2019
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