Bitcoin Exchange Hits $1 Trillion In Trading Volume (#GotBitcoin?)
“One Trillion Dollars traded in a year; the stats don’t lie. BitMEX ain’t nothing to fucking with. @Nouriel I’ll see you on Wednesday.” Bitcoin Exchange Hits $1 Trillion In Trading Volume (#GotBitcoin?)
The parabolic advance that started on April 2, caused a lot of FOMO, pushing the price as high as $13,800; the rally ended on June 26, and it has been a slow day ever since.
BitMEX, one of the most famous leverage trading exchanges, known for its Bitcoin perpetual contract, surged with traders trying to profit from the rally. Subsequently, the rally blindsided a lot of traders causing massive liquidations of shorts.
Surge or not, the total trading volume of Bitcoin on BitMEX reached whopping levels, as compared to the start of 2019, when total trading volume over 24 hours was hovering just below $1 billion, and during some days it even reached the $1 billion mark.
As of today, the total trading volume of BitMEX, as seen on CoinMarketCap, was over $5 billion and it is more than 18% of the total trading volume of Bitcoin which stands tall at $27 billion. BitMEX is also the top contributor to Bitcoin trading volume.
Arthur Hayes, the co-founder, and CEO of BitMEX, tweeted that the total trading volume of Bitcoin over a week had hit $1 trillion.
BitMEX’s leverage trading offers its users a wide variety of popular coins that include XRP, Litecoin, Cardano, Bitcoin Cash, EOS, Ethereum, etc.
Arthur Hayes is set to debate the Bitcoin critic, Nouriel Roubini aka Dr. Doom, at Asia Blockchain Summit in Taipei on July 2 and July 3.
A Twitter user @chainofSATs, tweeted:
“Sats don’t lie, Arthur! Sats* 🤠 @Nouriel the best way to defend yourself now is to just buy more Bitcoin than your biggest competitors and flip the script on them.”
Another Twitter user @thalamu_, commented:
“Congrats on your success, and thank you for creating such a great platform.” Bitcoin Exchange Hits $1,