BitMEX, one of the world’s leading crypto-coin trading platforms, has broken the industry record for Bitcoin trading volume, with more than 1 million Bitcoin traded on the platform in 24 hours for the period closing July 24, 2018. The 1,041,748 Bitcoin traded on BitMEX shattered its previous record of 800,000 Bitcoin traded within 24 hours. The landmark moment for the cryptocurrency industry comes as the Bitcoin price continues its upturn to more than $8,000 USD.
BitMEX CEO and Co-founder Arthur Hayes said the surge in trading and rising price of BTC is indicative of a “sophisticated understanding of the potential of bitcoin to redefine global markets.”
Hayes added that their engineering team has been scaling their hardware and network as well.
“The record that BitMEX has set marks a major milestone in the cryptocurrency industry’s overall path to maturation. I am delighted that BitMEX’s easy-to-use and highly secure trading application has helped to onboard yet another tidal wave of people from all around the world to the crypto market and given them the confidence to participate on the largest scale ever seen,” said Hayes.
Although the current volume numbers for Bitcoin are impressive, especially on BitMEX, daily Bitcoin trading volume is still far lower than the all-time highs near USD 23 billion in December 2017 and January 2018 when Bitcoin’s price rallied to USD 20,000. Total cryptocurrency daily trading volume hit USD 70 billion around the same time.
BitMEX says their XBTUSD market is the most liquid in the world, with 1500% more bitcoin to USD liquidity than any other platform.
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