​BitMEX cryptotrading network reached 1 mio Bitcoins once more

​BitMEX cryptotrading network reached 1 mio Bitcoins once more
Aug 10, 2018 by Rico Wise

Bitcoin financiers may struggle against the incredibly tough bearish market, however derivative cryptoexchanges as the likes of BitMEX still thrive under pressure.

This Wednesday, BitMEX, the cryptoexchange based in Seychelles, has managed to surpass the level of 1 mio Bitcoins in the trading volume again.

Over 1,020,000 BTC contracts were traded on that day, which amounts to nearly 6.6 billion US dollars at the current exchange rate.

The chief executive officer of the cryptoexchange, Arthur Hayes, has released a statement, which notes that the exchange has repeated its record by handling trades in the overall amount of 1 billion US dollars within a single day, signifying the solidification of the BitMEX community.

Hayes also connected this achievement with the company’s perpetual swap solution for the ETH/USD trading pair, released quite recently. This solution enables traders to leverage their bets on the ETH price without the necessity to possess any actual ETH coins.

The first time the cryptoexchange surpassed the same daily trading volume for Bitcoin was nearly two weeks ago, going down in history as a record volume amount both for the cryptoexchange and the cryptoindustry as a whole. Then the contracts amounted to over 8 billion US dollars’ worth of the daily trading volume.