The cryptographic stock exchange BitMEX, one of the world’s largest Bitcoin trading platforms, has surpassed a historic brand. For the first time in the 24-hour volume of Bitcoin trade amounted to more than a Million Bitcoin which corresponds to the current market situation a little over eight billion US dollars. However, it is not at BitMEX directly with the crypto currency Bitcoin, but with derivatives.
On Tuesday, the 24. In July, it was finally so far: For the first Time in the history of the crypto-trade within 24 hours on a single exchange-traded volume reached the one Million mark in Bitcoin. This happened to crypto exchange BitMEX, between 18:42 UTC on the 23. July and the same time the following day. More than eight billion dollars were implemented in this period on BitMEX.
A new BitMEX (and industry) record: 1,000,000 XBT (> $8BN) traded in the last 24 hours!
— BitMEX (@BitMEXdotcom) July 25, 2018
No Bitcoin What is on BitMEX?
As you can see from the Tweet, attributed to BitMEX, the Trading volume for Bitcoin, but not in BTC but XBT. This is due to the fact that BitMEX is directly with Bitcoin, but with derivatives, which represent the value of the crypto currency. The stock market, which has its official headquarters on the Seychelles, these derivatives in a variety of shapes, including different models of fixed-term contracts.
In the crypto-Community, there are different views about whether BitMEX is to be regarded as a regular crypto-trading space. So BitMEX from different sides as the world’s largest crypto will be listed on the stock exchange, the traded total volume of Bitcoin-a figure higher than in any other. According to the official interpretation of Coinmarketcap BitMEX, however, is not a crypto-exchange, because there is no actual crypto-currencies are traded. Therefore, one has excluded the volume of BitMEX, and leads Binance as the largest stock exchange.
Futures and derivatives, but still no ETFs
The Bitcoin stops, meanwhile, is stable at just under US $ 8,000, after he had this brand in the course of the week. The whole crypto market is in a slight upswing.
In addition to the model of BitMEX, to buy derivatives, the largest crypto-currency Bitcoin, there are since the last year also Option Bitcoin Futures on the Chicago stock exchange. An Exchange Traded Fund, however, investors will have to wait. So, a proposal from the Winklevoss brothers for a Bitcoin was rejected in the ETF from the SEC. In particular, institutional and traditional investors need to be patient.